Learn how to lower your taxes with these legitimate tax saving strategies.
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“Nanny Tax” Rules: Frequently Asked Questions
What kinds of household workers are covered by nanny tax rules? Household workers include anyone who does work in or around your home such as… Read More
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Advanced Charity Techniques: Maximizing Your Deduction
There are a number of tax vehicles for turning charitable desires into tax deductions. While these techniques are quite complex, they can with the proper… Read More
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Annuities: Frequently Asked Questions
What are variable annuities? Variable annuity contracts are sold by insurance companies. Purchasers pay a premium of, for example, $10,000 for a single payment variable… Read More
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Charitable Contributions of Property: Maximizing the Deduction
This Financial Guide discusses the rules that apply when you contribute property – as opposed to money – to charity and is meant to provide… Read More
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Charitable Contributions: Frequently Asked Questions
How can I spot a charity scam? These are some common-sense suggestions for avoiding rip-offs: Before giving, check on all charities with the local charity… Read More
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Charitable Contributions: How To Give Wisely
Since charities ask for larger and more frequent donations from the public these days, soliciting by mail, telephone, television, and radio, for example, they should… Read More
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Charitable Deductions: Frequently Asked Questions
How can I find out if contributions to a particular charity are tax-deductible? To obtain tax-exempt status under Section 501(c)(3) of the Internal Revenue Code,… Read More
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Higher Education Costs: How To Get The Best Tax Treatment
Various tax benefits, including tax exemption, tax deferral, tax credits, and deductions, are available if you are paying or saving for college or other higher… Read More
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Mutual Fund Taxation: How To Cut The Tax Bite
How are distributions from mutual funds taxed? What happens when they are reinvested? How are capital gains on sales of mutual funds determined? This Financial… Read More
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Mutual Funds: Frequently Asked Questions
How are mutual fund distributions taxed? You must generally report as income any mutual fund distribution, whether or not it is reinvested. The tax law… Read More
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Retirement Assets: Frequently Asked Questions
Will my heirs owe income taxes when they inherit my retirement assets? Yes, generally under the same rules that would apply to your withdrawals of… Read More
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Retirement Plan Distributions: How To Take Them
If you are thinking of retiring soon, you are about to make a major financial decision: how to take distributions from your retirement plan. This… Read More
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Retirement Plan Distributions: When To Take Them
When must you start withdrawing the funds in your retirement plans? And what happens if the funds aren’t withdrawn before you die? To what extent… Read More
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Roth IRAs: How They Work and How To Use Them
Roth IRAs differ from other tax-favored retirement plans, including other IRAs (called “traditional IRAs”), in that they promise complete tax exemption on distribution. There are… Read More
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Selling Your Home: How To Minimize the Tax On the Gain
Many tax benefits are available to you when you sell your principal residence. However, the rules are complex and personal guidance is necessary to take… Read More
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Tax Benefits of Higher Education: Frequently Asked Questions
What types of tax breaks are available for education costs? A wide variety of tax relief is available, but you’ll need to choose which break(s)… Read More
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Tax Saving Strategies: A Helpful Checklist
This Financial Guide provides tax saving strategies for deferring income and maximizing deductions and includes some strategies for specific categories of individuals, such as those… Read More
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Tax Saving Strategies: Frequently Asked Questions
What’s the best way to borrow to make consumer purchases? Under the Tax Cuts and Jobs Act, for tax years 2018 through 2025, interest on… Read More
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The “Nanny Tax” Rules: What To Do If You Have Household Employees
If you have a household employee, you may need to pay state and federal employment taxes. Which forms do you need to file for your… Read More
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The Deductibility of Points
This Financial Guide explains when and to what extent points paid on the purchase of a home or refinancing are deductible. It explains the rules… Read More
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Traditional vs Roth IRAs: Frequently Asked Questions
What’s good about investing in IRAs? There are two types of IRAs: traditional IRAs and Roth IRAs. Traditional IRAs defer taxation of investment income, and… Read More
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Travel and Entertainment: Frequently Asked Questions
Can I deduct the cost of meals on days I call on customers or clients away from my office? Generally not. Usually, you can only… Read More
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Travel and Entertainment: Maximizing the Tax Benefits
Don’t overpay your income taxes by overlooking expenses that you are entitled to deduct. Use this Financial Guide to ensure you are handling your business… Read More