Monthly Archives: September 2014

Rental Properties – A Tax Consideration

For years, owners of rental properties that show a tax loss have had to contend with the tax law's "passive loss" limitations. With limited exceptions, real estate rental losses may be used only to reduce passive income - the rental losses are not currently deductible against non-passive income, such as salary. Now, owners of real…
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Gifting a Personal Residence – Tax Saver or Tax Folly?

Many people believe that gifting a personal residence┬áto their children will help reduce their estate taxes. However, because the federal estate-tax exclusion amount is currently set so high ($5,340,000 in 2014), very few people can expect to have federally taxable estates. As a result, unless state estate taxes are a concern, the smart tax move…
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Income Strategies in Retirement

Income Strategies in Retirement, When you retire, you will probably have several sources of income. These may include traditional individual retirement accounts (IRAs) , Roth lRAs, pensions, 401(k) or 403(b) accounts, mutual fund and brokerage accounts, and Social Security. You'll want to have a strategy for managing your income and withdrawing from your accounts that…
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