Municipal Bonds: An Investment with Tax Breaks!
Everybody likes getting something for free, and taxes are no different. Investing in securities like municipal bonds (munis) or municipal bond funds generates tax-free interest income. Here is what you need to know. Advantages of municipal bonds You pay zero … Continued
How to Maximize Deductions for Assisted Living
It’s possible that someone in your family will need assisted living care at some point in their life. This care can be at an assisted living facility, a nursing home, or in their own home. Often, assisted living care is … Continued
The Marriage Penalty is Alive and Well
Despite what you may think, the marriage penalty is still alive and well. Whether you’re changing your filing status in 2019 because of marriage, divorce or another event (or it’s staying the same), you should review this information and plan … Continued
A Smarter College Housing Option
Does your child, grandchild, or someone else you know need a place to live while attending college? Instead of renting a dorm or apartment, buying a condo or small house might make more sense. This can save money and provide … Continued
Avoid the Pitfalls of Selling Property to Family
Suppose you own property you intend to transfer to your loved ones. Perhaps you are considering giving your children an ownership interest in your principal residence. Before you act, you should review the tax consequences of your decision. Specifically, tax … Continued
IRS ALERT: Two New Tax Scams
The IRS remains on the lookout for tax scams that can blindside unsuspecting taxpayers. Now two variations of past scams are currently making the rounds. Here’s what you need to know: The new scams The SSN hustle. This scam resembles … Continued
Retirement Basics: Understanding Tax Efficiency
One of the basics in retirement is to be as tax efficient with your income as possible. In 2019, income tax rates range from 0 to 37 percent, plus a potential 3.8 percent net investment tax. Understanding how these progressive … Continued
Don’t Fall for These 5 Audit Myths
When it comes to the perception of IRS audits, conjecture reigns supreme. The combination of the complex tax code and a government agency with the full authority to enforce it leads to some pretty wild ideas. Separating truth from fiction … Continued
4 Awesome Summertime Tax Saving Tips
This publication provides summary information regarding the subject matter at time of publishing. Please call with any questions on how this information may impact your situation. This material may not be published, rewritten or redistributed without permission, except as noted … Continued
3 Great Charitable Deduction Ideas
Despite what you may have heard from friends or family, you can still claim generous tax benefits for charitable contributions. Here are three prime examples of charitable tax breaks ripe for the picking if you know where to look: Qualified … Continued