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Tax Tips to Start the New Year

Advisors have a timely opportunity coming up to help clients plan for a financially successful 2016. Tax optimization in particular can be tied to the calendar months. Here are some action items advisors can keep in mind as soon as January starts that may make a big difference in...
Posted On 02 Jan 2016

As Oil Prices Stay Low, Alaska Mulls Income Tax

By Andy Tully Once upon a time, Alaska operated pretty much like any of the other 49 U.S. states, particularly in how it raised money to serve its population. One source of revenue was the income tax. Everything changed in the mid-1970s, though. The United States, still mindful...
Posted On 02 Jan 2016

States With the Scariest Death Taxes

Federal estate taxes are no longer a problem for all but the extremely wealthy. In 2016, as much as $5.45 million in assets will be exempt from federal estate taxes double that for a married couple. Source
Posted On 26 Dec 2015

Charity Choices and Precautions

Over the holiday season, we heard the familiar sound of the Salvation Army bells ringing. For many, it’s a reminder to give to others in need. Here are some useful tools that help your search for a charity that Source
Posted On 26 Dec 2015

Kitces: New Tax Legislation Set to Reinstate Most Extenders Permanently

Earlier this week, the House Ways and Means committee came to an agreement for key legislation to renew the so-called Tax Extenders, a series of tax provisions that have lapsed and been reinstated (i.e., extended) repeatedly over the past decade. The new legislation, entitled the...
Posted On 20 Dec 2015

3 Reasons You Might Get Audited by the IRS

The odds of being audited by the IRS are low. Fewer than 1% of tax returns are singled out for review. Your chances can go up, though, if you raise certain red flags. Here are three of them. See Source
Posted On 18 Dec 2015

Trim Your Tax Burden With Health Savings Account Contributions

As the year comes to a close, many people are looking for ways to save on their taxes. One way is through deductions on qualifying expenses. Tax deductions worth considering — and that many people don’t know about — are contributions to a health savings account , a tax-advantaged...
Posted On 16 Dec 2015

Retirement Tip: States With No Income Tax

You work hard for your money, so it makes sense to keep as much of it in your pocket as you can once you stop working. Minimizing the taxes you pay on your income in retirement can help. See Source
Posted On 16 Dec 2015

Retirement Tip: States With No Sales Tax

If you’ll be living on a fixed income in retirement, every dollar will count. That’s why it’s smart to factor in all expenses including taxes when picking a place to retire. See Also 15 Worst States for RetirementTake sales Source
Posted On 16 Dec 2015

Where Do You Rank as a Taxpayer?

Ever wonder how your income stacks up against your fellow workers? Do you make enough to put you in that at once extolled and excoriated 1% of richest Americans? In the bottom 50%? Somewhere in between? And, no matter Source
Posted On 16 Dec 2015