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Image for Widow Sells Her House: Tax Consequences?

Nov 22, 2021

Widow Sells Her House: Tax Consequences?

When Harry met Sally, they bought a wonderful home for $50,000. They loved their home, neighborhood, and the fond memories created there. However, when Harry passed away, Sally decided it was time to move. Now, Sally is left wondering what the tax consequences might be.

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Sep 13, 2021

Calculating Your Withholding Tax

If you typically get a large refund or end up owing a significant amount at tax-filing time, or your tax filing status or earned income changes, you may want to adjust form W-4.

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Aug 16, 2021

Child Tax Credit: Opt Out or Take the Money?

Earlier this year, the American Rescue Plan authorized a portion of the Child Tax Credit to be paid to eligible taxpayers monthly but don’t spend those funds right away. If your financial situation has changed, you may have to pay some of those dollars back!

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Apr 26, 2021

Enhanced Child Tax Credit – Do You Qualify?

The American Rescue Plan (ARP) has more than just stimulus payments to offer. If you qualify for the enhanced child tax credit, be on the lookout for the IRS portal rollout in a few months. Many families have benefited from child tax credits in years past, but the enhanced credit differs in several ways.

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Mar 29, 2021

ARP Stimulus Payment: Are You Eligible?

Just $1 too much could cost you your entire rebate. Reducing your adjusted gross income can help maximize your rebate without costing you a dime.

Image for The Nanny Tax. How Does it Work?

Feb 22, 2021

The Nanny Tax. How Does it Work?

So, you hired a nanny to reduce the pandemic chaos. But did you think about the tax issues involved? It’s worth taking the time to structure household employee arrangements at the beginning of an engagement, so everyone involved is protected from day one.

Image for COVID Stimulus #2 and Personal Tax Planning Strategies

Jan 11, 2021

COVID Stimulus #2 and Personal Tax Planning Strategies

After months of debate, Congress finally passed round two of economic relief. Along with the allocation of spending dollars, what are some of the other benefits for taxpayers?

Image for 2021 Tax Outlook: Proposals & Planning

Nov 30, 2020

2021 Tax Outlook: Proposals & Planning

There is always fluidity with tax proposals. However, it is best to have a plan in place for whatever uncertainty may lie ahead. Review your options with your financial and tax advisors.

Image for Upcoming Election: Will it Impact Your Estate Plan?

Oct 19, 2020

Upcoming Election: Will it Impact Your Estate Plan?

When it comes to estate planning, current policies have never been more favorable than today. Everyone’s goals and intentions for wealth transfer are different, so customizing a strategy that fits your needs is the most important first step.

Image for Cryptocurrencies: What IRS Wants to Know

Oct 12, 2020

Cryptocurrencies: What IRS Wants to Know

If you are a cryptocurrency fan, heads up! As cryptocurrency investing becomes more popular, the IRS will shine a larger spotlight on tax reporting.

Image for Let’s End 2020! But don’t forget year-end tax planning!

Sep 21, 2020

Let’s End 2020! But don’t forget year-end tax planning!

Spend some time now getting your 2020 tax picture in order. In just a few months, 2021 will arrive. Here are several things to consider before the calendar turns over.

Image for Concerned about Future Taxes?

Jun 29, 2020

Concerned about Future Taxes?

As a financial planner, my focus is on helping our clients achieve their goals, which means maximizing every dollar. This requires a complete understanding of the client's current tax situation, foresight on how their taxable income will look in future years, and some educated guessing on where tax rates may be. The goal is to pay as little tax as possible.

Image for Don't Wash Out with Your Tax-Loss Harvesting Strategy

Jan 20, 2020

Don't Wash Out with Your Tax-Loss Harvesting Strategy

You don’t need to wait until the end of the year to take advantage of tax-loss harvesting. Minimizing your tax obligation through effective tax-loss harvesting strategies can help your investment portfolio grow.

Image for Want Triple Tax Benefits? Donate to Scholarship-Granting Organizations

Oct 27, 2019

Want Triple Tax Benefits? Donate to Scholarship-Granting Organizations

Looking to provide scholarship funds to your alma mater or favorite school? Gifting to a scholarship-granting organization (SGO) allows you to do just that while also realizing great tax benefits. Read on for all the details to help you put money in your alma mater’s pocket, while keeping a bit more in your own!

Image for How to Make Tax Efficient Investments

Aug 5, 2019

How to Make Tax Efficient Investments

Taxes are an important consideration in investing. They should not be the sole driving force behind investment decisions, but investors should take them into consideration.

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Jul 25, 2019

Make Your HSA an IRA on Steroids

What if I told you a Health Savings Account is the most tax efficient and versatile retirement account you own? Believe it or not, with proper planning, an HSA can blow the doors off your 401(k), IRA, or even a Roth IRA!

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Jul 17, 2019

The Underutilized HSA

By law, Health Savings Accounts are so tax-efficient they may be the best investment vehicle available. Then why are we not maximizing their use?

Image for Pay Off Your Mortgage or Invest the Extra Cash?

Jun 13, 2019

Pay Off Your Mortgage or Invest the Extra Cash?

Paying off your mortgage can be a very attractive option when you find yourself with extra money. Not so fast, though! Is paying that mortgage off really your best financial option? While being mortgage-free can definitely be a good thing, you should be sure it doesn’t make more sense to invest that money. We’ll walk you through what you should be thinking about to make the best decision for your situation.

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May 6, 2019

Opportunity Zone Investing

Opportunity zone investing might not be a phrase you’re familiar with, but they can be a nice tax advantage for those with unrealized capital gains in their portfolio. We explain what opportunity zone investing is, and how you can determine if this type of investing works for your portfolio.

Image for Owe Taxes? What Went Wrong in 2018 and How to Survive It

Apr 22, 2019

Owe Taxes? What Went Wrong in 2018 and How to Survive It

With 2019 being the first year to file under the Tax Cut and Jobs Act, many Americans are finding themselves faced with a tax bill due to Uncle Sam. Unsure how this happened, how to pay for your tax burden, or what you can do to prevent another tax bill in the future? Read on for the details.

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Feb 4, 2019

New Standard Deduction: Do you still Itemize?

It’s almost tax time, and along with that comes a new standard deduction that could shake up how you file your taxes. If you’ve been used to itemizing your deductions, this year might be the first where you take the new larger standard deduction. We’ve broken down who might itemize versus who will likely benefit from taking the deduction, along with tax strategies you can employ right now to benefit your tax situation in 2019.

Image for Tax Planning & Capital Gains: Now’s the Time to Tackle It!

Oct 15, 2018

Tax Planning & Capital Gains: Now’s the Time to Tackle It!

With just over two months left in 2018, now is a good time to start your tax planning, and analyzing your capital-gain situation could result in a lower tax bill come Tax Day 2019. By considering various strategies to offset your capital gains, you could reduce your tax impact and keep as much of those gains in your pocket as possible.

Image for Inside Scoop on the New Kiddie Tax

Aug 6, 2018

Inside Scoop on the New Kiddie Tax

Thinking about moving investments into your children’s names to be taxed at a lower rate? Not so fast! The Kiddie Tax was recently restructured by the Tax Cuts and Jobs Act, and it’s important to understand those changes and how it will affect you and your children. We have you covered with all the details.

Image for Your Roth Account and the 2018 Rule Changes: Your Questions Answered

May 21, 2018

Your Roth Account and the 2018 Rule Changes: Your Questions Answered

As part of the tax law changes enacted earlier this year, the rules regarding Roth accounts have also been updated. Be sure you understand the new Roth rules and how they could impact you and your wallet.

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Feb 19, 2018

Investing with the New Tax Plan

Wondering how future investing and tax strategies might be impacted by changes outlined in the Tax Cuts and Jobs Act? What’s changed and what’s stayed the same? We have you covered - we’ve compiled a list of those changes that might be most pertinent to you, as you consider your investment and tax strategies.

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Nov 13, 2017

Flexible Spending Account = Money Saved

How would you like to save on your next pair of glasses or your child’s preschool tuition? You don’t need a coupon and you won’t have to negotiate a deal – all you need is a Flexible Spending Account.

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Mar 20, 2017

Career Starters: Wake Up!

What’s the one deadly sin that can ruin your financial future? Answer: Spending when you should be saving! If you are part of the millennial ...

Image for Charitable Gift Fund: Questions & Answers

Nov 17, 2016

Charitable Gift Fund: Questions & Answers

Are you interested in simplifying your charitable giving? Or, perhaps you want to reduce your tax liability in a high income year. Do you have ...

Image for Stock Portfolio Down, Taxes Up - How Does that Happen?

Oct 12, 2015

Stock Portfolio Down, Taxes Up - How Does that Happen?

As we write this, the stock market seems to be on course for its first down year since 2008. While not fun, drops in the stock market are natural and should be expected from time to time.

Image for Tax Reducing Strategies for RMDs

Sep 16, 2013

Tax Reducing Strategies for RMDs

If you are over 70 ½, read this article! The Internal Revenue Service requires you to withdraw a minimum amount each year from your retirement accounts. If you don’t need the money, you have options that can reduce your taxes either this year or in the future.

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