Although tax planning is important for investors year round, it is most important as the calendar year draws to a close. While investment decisions are made throughout the year, they are particularly critical at year end because of the potential tax implications. The United States tax code provides many tax planning opportunities for investors… Continue reading →
Planning
Family Finances: Tax Settlement, Innocent Spouse Relief, and Injured Spouse Relief
A recent study by Fidelity Investments revealed that individuals often lack adequate knowledge of family finances. The results of the study showed that a surprising number of marriage partners have insufficient information about important financial matters such as insurance policies, investment accounts, physical assets, beneficiary designations and income taxes, among other things. While this lack… Continue reading →
Tax Breaks: Same-Sex Marriages will Receive Equality Across the Entire Nation
A new ruling has declared tax breaks for same sex marriages since they will now receive equality across the entire nation.The Defense of Marriage Act (DOMA), enacted by Bill Clinton in 1996, was terminated this summer. This act, which allowed same-sex couples to receive the same tax benefits as heterosexual couples, was recently repealed by a… Continue reading →
Summer Tax Basics – Tax Tips to Keep You Ahead of the Game!
It’s summertime and probably the last thing you want to think about is taxes! However, I am an organizer and I like to be prepared so at least I feel like I am ahead of the game…. Here are some easy and simple summer tax tips that will help you save money! Most people wait… Continue reading →
Gift and Estate Tax Changes Expected to Occur at the End of 2012
The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act which was signed into law in 2010 increased the amounts of the estate, gift and generation skipping tax exemptions and, at the same time, lowered the tax rates for each of these taxes. However, unless Congress takes some action before the end of the year,… Continue reading →
5 Ways to Get Caught Cheating on Your Taxes
As unemployment and the economy continue to loom over America, you may be tempted to cheat on your taxes since what you owe seems like too much to pay. This is never a good idea. With penalties, fees, interest, and in extreme cases, jail time as possible consequences, cheating on taxes is simply not worth… Continue reading →
