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Our take on all things financial.
How Can an Estate Plan Be Kept Vital After Death?
When a loved one passes away, you might think that the options for his or her estate plan have also been laid to rest. But that isn’t necessarily the case. Indeed, there may be...
A Tax-Smart Way to Develop and Sell Appreciated Land
Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels and sell them off for a hefty profit, it could...
The Time to Make Health Care Decisions is When You’re Healthy
When it comes to estate planning, your ultimate goal likely is to provide for your family after your death. To achieve this goal, consider placing assets in an irrevocable trust...
Retirement Account Catch-up Contributions Can Add Up
If you’re age 50 or older, you can probably make extra “catch-up” contributions to your tax-favored retirement account(s). It is worth the trouble? Yes! Here are the rules of the...
Corporate Officers or Shareholders: How Should You Treat Expenses Paid Personally?
If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. These costs may end up being nondeductible both by an...
Use an S Corporation to Mitigate Federal Employment Tax Bills
If you own an unincorporated small business, you probably don’t like the size of your self-employment (SE) tax bills. No wonder! For 2023, the SE tax is imposed at the painfully...
2023 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2023. Keep in mind that this list isn’t all-inclusive, so...
When Can Seniors Deduct Medicare Premiums on Their Tax Returns?
If you’re age 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want. The premiums can be costly,...
Reduce the Impact of the 3.8% Net Investment Income Tax
High-income taxpayers face a regular income tax rate of 35% or 37%. And they may also have to pay a 3.8% net investment income tax (NIIT) that’s imposed in addition to regular...