Our Financial Blog

Actions you can take before time runs out! Here are five tax saving ideas that can be used by most taxpayers. But act soon, there's not much time left until our tax year comes to an end. 1. Make late-year charitable donations. Consider making donations with...

These Benefits are not just for kids! Kids aren’t the only ones heading back to school this fall. Many adults are also taking courses to pursue a new career or improve their current job skills. Fortunately, there are several tax breaks for adult students. Here are...

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 expensive and not fully reimbursable by typical...

Does your child, grandchild, or someone else you know need a place to live while attending college? Instead of renting a dorm or apartment, buying a condo or small house might make more sense. This can save money and provide tax breaks, but you need to do the math and...

Suppose you own property you intend to transfer to your loved ones. Perhaps you are considering giving your children an ownership interest in your principal residence. Before you act, you should review the tax consequences of your decision. Specifically, tax law...

When it comes to the perception of the IRS audits, conjecture reigns supreme.  The combination of the complex tax code and a government agency with the full authority to enforce it leads to some pretty wild ideas.  Separating truth from fiction is an...

Summer is usually the time for relaxing, but it can also be a time for tax savings, especially if you’re still reeling from an unexpectedly large tax bill in April.  Here are four timely tips: Rent your home.  If you rent out your main home or a vacation...

Your kids are getting older.  Before you know it they’ll be dating, driving and entering college (if they aren’t already).  Tax breaks drop dramatically as your children grow up, but you may be able to offset the losses with some timely tax planning. ...

Despite what you may have heard from friends or family, you can still claim generous tax benefits for charitable contributions.  Here are three prime examples of charitable tax breaks ripe for the picking if you know where to look:  Qualified charitable...

There is a large tax break that allows you to exclude up to $250,000 ($500,000 married) in capital gains on the sale of your personal residence.  But making the assumption that this gain exclusion will always keep you safe from tax can be a big mistake. ...

Have you filed your 2017 taxes yet? If not, you still have the opportunity to make sure that you lower your tax obligation as much as possible. With new tax laws in effect for 2018 and beyond, the following deductions will disappear after this tax season—check them...

Whether you receive a big refund or pay taxes on tax day, taking action now can ensure next year’s tax bill is optimized by not paying a dollar more than necessary. Update paycheck withholdings and forecast estimated tax payments.  Reviewing and updating...

Tax season is approaching quickly. It’s just a few weeks until the IRS officially starts accepting returns, which means now is the perfect time to use the tips below to help you net some last-minute tax-savings and tackle tax season with ease....