Each year thousands of people fall behind in paying their bills, oftentimes due to circumstances outside of their control. If you find yourself in that situation, you may end up dealing with aggressive debt collectors. If you do, realize that […]
As you approach your retirement years, it’s important to have a basic understanding of the IRS gift giving rules. Once you understand them there are opportunities to leverage this tax law without creating a tax problem. The rules You can […]
There are a variety of scams and fraudulent schemes that target older adults. IRS impersonation scams are the most prevalent scams targeting older adults, but financial scams can take a variety of forms. Unfortunately, funds stolen as a result of […]
Everybody likes getting something for free, and taxes are no different. Investing in securities like municipal bonds (sometimes referred to by the nickname “munis”) or municipal bond funds generates tax-free interest income. Here is what you need to know. Tax […]
It’s possible that someone in your family will need assisted living care at some point in their life. This care can be at an assisted living facility, a nursing home, or in their own home. Often, assisted living care is […]
The IRS remains on the lookout for tax scams that can hoodwink unsuspecting taxpayers. Recently, two new variations of past scams have been discovered to be on the rise. Here’s what you need to know: Scam 1: The SSN hustle […]
It’s sad, but true: Half of all new businesses fail within the first five years. Although lots of factors contribute to business failure, a common culprit is poor cash management. All businesses must deal with the uncertainty of fluctuating sales, […]
One of the basics in retirement is to be as tax efficient with your income as possible. In 2019, income tax rates range from 0% to 37%, plus a potential 3.8% net investment tax. Understanding how these progressive tax rates […]
With summertime activities in full swing, tax planning is probably not on the top of your to-do list. But putting it off can create problems at the end of the year when there’s little time for changes to take effect. […]
A Health Savings Account (HSA) is a tax-advantaged savings account whose funds can be used to pay qualified health care costs for you, your spouse and your dependents. The account is a great way to pay for qualified health care […]