How To Use An HSA As A Retirement Savings Tool
There is a wide range of plans to help save for retirement. But one type of plan is ideally suited to serve a dual purpose: a Health Savings Account (HSA). […]
Is A Roth IRA Conversion Right For You This Year?
If you have a traditional IRA, you might benefit from converting some or all of it to a Roth IRA. A conversion can allow you to turn tax-deferred future growth […]
Who’s Subject To The 50% Limit On Meal & Entertainment Deductions?
In general, when meal and entertainment expenses are incurred in the context of an employer-employee or customer–independent contractor relationship, one party will be subject to a 50% limitation on the […]
Do You Need To File An FBAR?
So you included Form 8938, Statement of Specified Foreign Financial Assets, with your 2013 federal income tax return to report your interests in certain foreign financial accounts. Do you also need to […]
Softening The Blow Of Higher Taxes On Trust Income
This year, trusts are subject to the 39.6% ordinary-income rate and the 20% capital gains rate to the extent their taxable income exceeds $12,150. And the 3.8% net investment income […]
Affordable Care Act Update
The Affordable Care Act has undergone multiple legislative and administrative changes since enactment in 2010. Here’s the status of several of the tax provisions. Individual penalty. The penalty for not […]
Your 2013 Tax Return Is Filed…What Tax Records Can You Toss?
The short answer is: none. You need to hold on to all of your 2013 tax records for now. But this is a great time to take a look at […]
Can I Claim My Elderly Parent As A Dependent?
For you to deduct up to $3,900 on your 2013 tax return under the adult-dependent exemption, in most cases the parent must have less gross income for the tax year […]
Two Options For The Home Office Deduction
When you’re traveling, a shortcut can be a time-saver, but taking it instead of the main route could cost you in other ways. The same is true in tax law, […]
It’s Not Too Late To Make A 2013 Contribution To An IRA
Tax-advantaged retirement plans allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. But annual contributions are limited by tax law, and any unused limit […]