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How Trumps Presidency Could Affect Your Estate Plan

On November 8 2016 the estate planning world was turned upside down The election of a new President and the current majority in Congress creates tremendous potential for change in 2017 On November 8 2016 the estate planning world was turned upside down The election of a new...
Posted On 23 Dec 2016

Tax Tip 2016: Moving Expenses for Your First Job

Although job hunting expenses are not deductible when looking for your first job moving expenses to get to that job are And you get this write off even if you don t itemize Although job hunting expenses are not deductible when looking for your first job moving expenses to get to...
Posted On 22 Dec 2016

How to Lower Your Tax Bill Before Years End

December isn’t traditionally seen as tax time. But during the last days of the year, you can take steps to lower your bill when you file your returns . Here are six moves to consider. 1. Be generous Add tax-smart gifts to your holiday shopping list. You can claim charitable...
Posted On 22 Dec 2016

What Parents Should Know About Taxes on Custodial Accounts

My daughter is about to turn 21 and will be able to control the custodial account we established for her years ago Will she qualify for the 0 capital gains rate if she sells shares after she has control of the account She is in college and my wife and I claim her as a dependent J...
Posted On 22 Dec 2016

Tax Tip 2016: Deduct Job-Hunting Expenses

If you looked for a job in 2016 in the same line of work as your current or most recent profession you can deduct some of your costs Qualifying expenses can be written off even if you didn t land a new job If you looked for a job in 2016 in the same line of work as your current...
Posted On 22 Dec 2016

Tax Tip 2016: Out-of-Pocket Charitable Deductions

You re less likely to forget the big check you wrote to a charity when tax time rolls around You probably received a receipt from the lucky organization acknowledging your donation If not there should be a cancelled check or credit card statement floating around to serve as a...
Posted On 22 Dec 2016

8 Tax-Planning Moves to Make Before 2016 Ends

With the holidays quickly approaching and the chaos from numerous parties shopping wrapping and feasting your tax return is probably far from being a top priority With the holidays quickly approaching and the chaos from numerous parties shopping wrapping and feasting your tax...
Posted On 22 Dec 2016

Last Chance for 0% Capital Gains?

Attention taxpayers who fall in 10 and 15 federal tax brackets and that s most of you If you own stocks mutual funds or other investments in a taxable account it s critically important to review your portfolio before the end of the year If you have unrealized long term capital Source
Posted On 20 Dec 2016

Tax Tip 2016: Tax Credits for Home Energy Efficiency

Your 2016 return is the last chance to claim a tax credit for installing energy efficient windows or making similar energy saving home improvements Your 2016 return is the last chance to claim a tax credit for installing energy efficient windows or making similar energy saving...
Posted On 19 Dec 2016

Tax Deductions the Rich Dont Want You to Know

It often seems that the rich get richer. But what many don’t realize is that the wealthy use certain tax deductions to keep more money in their bank accounts, rather than in the hands of the federal government. From hiring family to purchasing certain life insurance plans, here...
Posted On 16 Dec 2016