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). […]
Alimony Can Affect Your Tax Return
You’re probably aware that alimony you receive is taxable income. However, determining what’s considered alimony may not be as simple as it appears at first glance, because you can receive […]
When Should You Start Receiving Social Security Benefits?
As you approach retirement age, you must decide whether to begin taking reduced Social Security benefits early or wait until the full benefit retirement age (FBRA), or even later. In […]
A Capital Gains Review For Your 2013 Tax Return
Wondering what capital gain rates will apply to your 2013 federal income tax return? The rate you pay on gain from the sale of stocks or other assets depends on […]
Taxes And Distributions From Inherited IRAs
What are the tax consequences when you inherit an Individual Retirement Account? You may think the inheritance is income tax-free. However, amounts you withdraw can be taxable — in some […]
Year-End Tax Planning Strategies
After Congress passed and the President signed into law the American Taxpayer Relief Act of 2012 (ATRA), dramatic individual income tax increases went into effect in 2013. The ATRA shifted […]
It’s Not Too Late: IRA Distributions for Charitable Deductions
Have you considered using the funds in your individual retirement account (IRA) to make a charitable contribution? If so, it’s a good idea to follow up on your plans sooner […]
Year-End Tax Planning For Individuals
So how much will you owe with your 2013 federal income tax return? Not sure? You still have time to calculate your liability — and perhaps reduce it. Here are […]
Home Mortgage Debt Forgiveness May Be Expiring Soon
Since 2007, homeowners have been allowed to exclude from their taxable income up to $2 million in cancellation-of-debt (COD) income ($1 million for married taxpayers filing separately) in connection with […]
Renting Out Your Vacation Home Can Bring Tax Complications
If you rent out your vacation home for 15 days or more, you must report the income. But exactly what expenses you can deduct depends on whether the home is […]