Gift Tax Exclusion Rules are Advantageous
As we head toward the gift-giving season, you may be considering giving gifts of cash or securities to your loved ones. The gift tax […]
When is Tax Due on Series EE Savings Bonds?
You may have Series EE savings bonds that were bought many years ago. Perhaps you store them in a file cabinet or safe deposit […]
Tax Credits for College Costs
We all know the cost of college is expensive. The latest figures from the College Board show that the average annual cost of tuition and fees was […]
Tax Issues When Divorcing
In addition to the difficult personal issues that divorce entails, several tax concerns need to be addressed to ensure that taxes are kept to a minimum and that important […]
Tax Deductible Teacher Expenses
With the school year now in full swing, teachers often pay for various expenses for which they don’t receive reimbursement. Fortunately, they may be able to deduct […]
Taking Traditional IRA Distributions
If you’re like many people, you’ve worked hard to accumulate a large nest egg in your traditional IRA (including a SEP-IRA). It’s even more critical to carefully plan […]
Innocent Spouses May Get Tax Relief
When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount of tax on the […]
“Kiddie Tax” Hurts Families More Than Ever
Years ago, Congress enacted the “kiddie tax” rules to prevent parents and grandparents in high tax brackets from shifting income (especially from investments) to […]
Tax Implications of Gambling Winnings
If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to deal with the tax consequences of your good fortune. […]
“Nanny Tax” Applies to More Than Nannies
You may have heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. You see, […]
