How Savings Bonds are Taxed
Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You […]
Adopting a Child? Bring Home a Tax Break Too
Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim a credit […]
How Inflation Will Affect Your 2022 and 2023 Tax Bills
The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than you were last year. […]
You May Be Liable for “Nanny Tax” for All Types of Domestic Workers
You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, […]
Plan Now to Make Tax-Smart Year-End Gifts to Loved Ones
Are you feeling generous at year end? Taxpayers can transfer substantial amounts free of gift taxes to their children or other recipients each year […]
Tax and Other Financial Consequences of Tax-Free Bonds
If you’re interested in investing in tax-free municipal bonds, you may wonder if they’re really free of taxes. While the investment generally provides tax-free […]
Investing in the Future with a 529 Education Plan
If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as 529 plans. […]
Year-End Tax Planning Ideas for Individuals
Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next.
Don’t Forget Income Taxes When Planning Your Estate
As a result of the current estate tax exemption amount ($12.06 million in 2022), many estates no longer need to be concerned with federal […]
Can Homeowners Deduct Seller-Paid Points?
In its latest report, the National Association of Realtors (NAR) announced that July 2022 existing home sales were down but prices were up nationwide, compared with last […]
