Life Insurance – Avoiding Taxes On The Proceeds, when you purchased your life insurance, you probably thought about things like how much coverage, you should have a!!d the cost. The subject of taxes may not have come up, or you may have simply assumed life insurance proceeds are not taxable. As with so many tax […]
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Time To Review Your Mutual Fund Investments, now might be a good time to review your mutual fund investments with a tax-wise eye toward improving your 2013 returns. For any investment, your actual return is the return you realize after accounting for taxes and other expenses paid on the investment. And, by their nature, mutual
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Deducting Student Loan Interest, financing a college or graduate school education often requires incurring at least some student-loan debt. For those who qualify for it, the tax deduction for student-loan interest can help ease the financial burden. Overview, The deduction is available for as much as $2,500 of interest annually. Taxpayers don\’t. have to itemize
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Don\’t Be Caught by Surprise, for much of 2012, uncertainty about the fate of various favorable tax law provisions set to \”sunset\” at the end of the year has complicated tax planning. Although the situation may change, as this article goes to press, taxpayers are still waiting for answers from lawmakers and weighing what planning
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Saving for Retirement Tax Benefits Can Help, setbacks in the financial markets and a long road to economic recovery haven’t made the job of saving for retirement any easier. But if you have a 401(k) or similar retirement savings plan at work, there is some good news: The basic tax benefits you receive as a
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Caution: This Estate Includes IRD, here\’s a fictional story you may find interesting if you\’re planning your estate. Ted’s Tale Ted was a successful executive. He had a large estate when he died, all of which he left to his two children, Tina and Tom. Under Ted’s estate plan, Tina will receive land valued at
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Good Intentions, Bad Tax Results, a recent Tax Court case* illustrates what can go wrong when taxpayers don’t have all the documentation required to support their deductions for charitable contributions. The case involves a couple who had made a series of cash donations totaling approximately $25,000 to a tax-exempt organization (their church). They claimed a
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Make sure your Tax Payment are on Time, the IRS doesn’t wait until returns are filed to collect income taxes from taxpayers. Most people are required to pay tax during the year by making quarterly estimated tax payments to the IRS or having their employers withhold income taxes from their paychecks. It’s important to pay
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A Different Way To Give Donor-Advised Funds, are you looking for a different way to give to your favorite charities? If you are, you may want to consider a donor-\’ advised fund. Donor-advised funds are a popular option because they offer. several attractive benefits: relatively modest contribution guidelines, little to no set-up costs, few ongoing
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Saving For Retirement When You\’re Self-Employed, you\’re in good company if retirement security is one of your main financial concerns. A difficult economy, market volatility, and less access to traditional pensions have heightened awareness of the need for retirement planning. As a self-employed individual, you really have to think carefully about your future, since you
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