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Tax Advice: Adopting a Child? Bring Home Tax Savings, Too

December 10, 2019

If you’re adopting a child, it is one of the happiest experiences of your life. There also may be substantial tax breaks available to offset the costs.
Tax Advice: 3 Last-Minute Tips to Help Trim Your Tax Bill

December 6, 2019

Before you know it, 2020 will be here. You may still have time to reduce your federal tax liability by taking these steps.
Tax Advice: Medical Expenses & What It Takes to Qualify for a Tax Deduction

December 4, 2019

You may wonder if you can get a tax break for medical and dental expenses, as well as prescription drugs. Here’s what it takes and how you might be able to benefit by moving certain expenses into 2019.
Tax Advice: What Is Your Taxpayer Filing Status?

November 21, 2019

Should you file your tax return as a single person, a married couple filing jointly, a “head of household” or some other status? This explains what the federal tax filing statuses
are and who can claim them.
Tax Advice: Using Your 401(K) Plan to Save This Year & Next

November 13, 2019

Have you been contributing enough in 2019 to your employer’s 401(k) plan or Roth 401(k)? Here are the contribution limits for this year and the just-announced limit for 2020.
Tax Advice: Consider a Tax-Advantaged Account for Disabled Family

November 8, 2019

Do you want to provide extra money to a disabled family member but you don’t want them to lose eligibility for government benefits to which they’re entitled? Consider a tax-advantaged ABLE account.
Tax Advice: An Alternative to Taxable Required Distributions

November 3, 2019

There’s a tax-smart strategy for high-net-worth individuals over 70-1/2 years old who have IRAs and are charitably minded.
Tax Advice: Selling Securities by Year End? Avoid the Wash Sale Rule

October 24, 2019

Have you cashed in some investment gains in 2019? You may be looking for unrealized losses in your portfolio so you can sell those investments to offset your gains before year
end. This can reduce your tax liability. But don’t run afoul of this rule.
Tax Advice: Beware Tax-Related Scams

October 22, 2019

Have you received a text, letter, email or phone call purporting to be from the IRS? Don’t become the victim of a scam. Here’s what you should look out for.
Tax Advice: Use a Coverdell ESA to Help Pay School Costs

October 22, 2019

Are you looking for ways to save for your child’s or grandchild’s education? Or do you want to save for private elementary and secondary school? A Coverdell Education Savings
Account may help.
Tax Advice: Take Advantage of the Gift Tax Exclusion Rules

October 7, 2019

With the annual federal gift tax exclusion, you can transfer substantial amounts free of gift taxes to your children and others. Here are the basic rules.
Tax Advice: When is Tax Due on Series EE Savings Bonds?

October 6, 2019

If you own Series EE bonds, check the issue dates on your bonds. If they’re no longer earning interest, you probably want to redeem them. Read this article to learn more on that
and how the interest on the bonds is taxed.
Tax Advice: On Divorce-Related Tax Issues

September 18, 2019

Getting a divorce can be a painful process. You don’t want to make it worse by making decisions that will cost you more in taxes. Here are four issues to consider if you’re in the process of getting a divorce.
Tax Advice: Must You Make a Payment on September 16?

September 10, 2019

The third estimated tax payment deadline is coming up. Here are the details of when it is and whether you’re required to make a payment.
Tax Advice: Expenses Teachers Can/Can't Deduct on Their Taxes

August 28, 2019

Are you an educator who's back to school and spending money out of your pocket to teach your students? Read on: you may be eligible for a special tax break!
Tax Advice: Taking Distributions from Your Traditional IRA

August 26, 2019

Prudently planning how to take money out of your traditional IRA can mean more money for you and your heirs. Here are three areas to understand in order to maximize your
retirement savings.
Tax Advice: "Innocent Spouses" May Get Relief from Tax Liability

August 15, 2019

If you’re married and file a joint return, what happens if your spouse doesn’t disclose all of his or her income or otherwise doesn’t pay the correct tax owed? You’re generally
liable for the full amount but there may be “innocent spouse” relief.
Tax Advice: The "Kiddie Tax" Hurts Families More Than Ever

August 1, 2019

If your child or grandchild has unearned income from dividends, interest and capital gains, beware of the “kiddie tax.” Your family may be hit even harder by the tax under current
law.
Tax Advice: "Nanny Tax" Applies to More Than Just Nannies

July 27, 2019

In 2019, if you pay a household worker cash wages of $2,100, you must withhold and pay Social Security and Medicare taxes. Learn about this and other tax obligations for household
workers.
Tax Advice: Volunteering for Charity = Tax Break?

July 16, 2019

Do you spend time volunteering for charity? While you can’t deduct the value of your time, you may be able to deduct some of the out-of-pocket costs. Here are the rules.
Tax Advice: Summer, a Good Time to Review Your Investments

July 16, 2019

As the old song goes: “Summertime, and the livin’ is easy.” But take some time to review your investment portfolio for possible growth and tax reduction strategies.
Tax Advice: You May Have to Pay Tax on Social Security Benefits

July 8, 2019

If you’re getting close to retirement age, you may be wondering if your Social Security benefits are going to be taxed. And if so, how much will you have to pay?
Tax Advice: Kids at Day Camp? You May Be Eligible for a Tax Break

June 25, 2019

If you meet certain requirements, you may be eligible for a tax break on summer day camp expenses you pay for your child. Here is a rundown of the rules.
Tax Advice: Is an HSA Right for You?

June 21, 2019

Would you like to pay health care expenses from a tax-advantaged account? A Health Savings Account (HSA) may be right for you.
Tax Advice: Why Donating Your Vehicle May Not Be Taxwise

June 17, 2019

A tax deduction isn’t the only reason for donating a vehicle to charity. But if you’re counting on one, make sure you understand the rules. You may wind up with a small deduction or none at all.

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