Do you want to make a Roth IRA contribution, but your income is over the limit to do so? There is a trick that some people can use to make contributions to Roth IRAs even if they have high income levels. This won’t ...(more)
O.k. I know, we all know where are children live. But based upon my experience this tax season, military members may not be aware of where our children live for taxes.
First, let me remind you. I'm not a lawyer and ...(more)
“But one must take pride in paying up every April 15. Look at it this way: If you don’t spend your dollars on the IRS, you’d probably just squander it on foolish things, like food, rent.”–Cindy Adams
I recently was ...(more)
Spring is here, that means it’s tax season! The term “capital asset” applies to almost everything you own and use. It is important to document capital assets you bought and sold throughout the year. Here are 10 ...(more)
The American Opportunity Tax Credit, lifetime learning credit and tuition and fees deduction are available to taxpayers who pay qualifying expenses for an eligible student. Eligible students include the primary ...(more)
The following are some key items that are extended:
The individual marginal tax rates will remain 10%, 15%, 25%, 28%, 33%, and 35%. However, a new top rate of 39.6% will be imposed on individuals making $400,000 and ...(more)
The Importance of Having a Tax-Efficient Investment Portfolio - Part 3
Tax-Deferred Investments
Tax deferred investment vehicles allow you to make an investment now and not pay taxes on the growth of the investment ...(more)
The Importance of Having a Tax-Efficient Investment Portfolio - Part 2
Tax Efficient Investing
Besides using tax-deferred investment vehicles, which are covered in the next section, there are a few other important ...(more)
The Importance of Having a Tax-Efficient Investment Portfolio - Part 1
Tax Diversification in Your Portfolio
Benjamin Franklin once said, "The only things certain in life are death and taxes." Since we cannot totally ...(more)
When I was twenty years old in college, I calculated that the biggest lifetime expense I’ll have is not a mortgage or my college education but it is income taxes. From then on, I read everything I could about the tax ...(more)
The Alternative Minimum Tax may apply to you if your income exceeds a certain amount. Here are four helpful facts about the AMT:
1.You may have to pay the tax if your taxable income plus certain adjustments is more ...(more)
The Alternative Minimum Tax (AMT) was added to the Tax Code to prevent the "rich" from exploiting the tax code and paying little to no tax. While that may have been the intent, the AMT no longer applies to just the 1% ...(more)
It’s that time of year again to start thinking about taxes. If you are looking for resources, the IRS provides free tax forms and publications on a wide variety of topics. Here are four ways to obtain tax forms and ...(more)
The dust has finally settled on the American Taxpayer Relief Act. While the press talks about the extension of the Bush and tax rates, there is a little bit more to it. These changes affect your planning, not your ...(more)
I know that in today's real estate market most of us aren't too concerned about the taxes on the gain of the sale of a Primary Residence. But, with that said, the IRS does give military members, some special benefits ...(more)
This is a challenging time to be a financial planner when it comes to tax planning. The fact is there is very little certainty concerning next year and beyond when it comes to taxes. There are a few things though that ...(more)
If you look at interest rates today, it sure makes a lot of sense to consider refinancing your home. And, it may or may not be the right decision for you. But, before you decide on whether you will refinance make sure ...(more)
It’s Not Just What You Make – It’s What You Keep That Matters
Increasing return through active tax management
“In this world nothing is certain but death and taxes.”- Benjamin Franklin
Synopsis
The ...(more)
Yes, you read that right! The current 15% Capital Gains Tax Rate is scheduled to increase to 20% plus 3.8% for the new Medicare Tax passed by our current Congress.
So, 15% will increase to 23.8% for a total tax rate ...(more)
