Category: Tax saving tips

How to Preserve Tax Breaks With MAGI Management

How close to the edge are you when it comes to tax phase-outs? As you begin your midyear tax planning, consider the effects of these benefit-limiting provisions. Knowing how close you are to the “edge” can help preserve tax breaks

Last minute tax savings tips for 2014

There’s not much time left to make tax saving moves for 2014. Here are some last minute tax saving tips that you might like to consider before January 1st, 2015:

Investing in mutual funds? Watch for year-end tax issues

Mutual funds offer an efficient means of combining investment diversification with professional management. Their income tax effects can be complex, however, and poorly timed purchases or sales can create unpleasant year-end surprises.

Wedding plans should include some tax planning

Ask the typical summer bride and groom what’s included in the wedding plans, and they probably won’t mention a thorough tax review. Yet, the tax and financial aspects of getting married are not to be taken lightly. Consider the following

IRS Tax Rules – Taxes and retirement accounts

Retirement accounts grow tax-deferred until you need the funds. However, in most cases your money cannot remain in these accounts forever. The IRS has rules that dictate when and how much you must withdraw from your retirement accounts. IRS Rules

Tax Tips: When are you required to file a gift tax return?

Are you planning to give sizeable gifts to family members? Due to generous provisions in the tax code, you may not owe any federal gift tax, but you still might be required to a file a gift tax return. Here’s

Business Tax Tip: Check your eligibility for this business tax credit

The health insurance premium credit for small businesses has been available since 2010. According to a recent report, many businesses that qualify for this business tax credit have failed to take it. Even if your business hasn’t taken this credit

Time Is Running Out For Making Tax-Smart Gifts and Donations in 2013

Are you looking to make some tax-smart gifts and donations this year? You’ve worked hard to accumulate and protect your wealth this year. Now might be the time to consider tax-savvy ways to give some of it away.

Pros and cons of dollar cost averaging

Experienced investors don't need to be convinced about the inherent volatility of the stock market. Prices seem to soar and plummet regularly. One possible investment strategy for smoothing out the inevitable ups and downs is called …

The annual gift tax exclusion – use it or lose it!

Did you know that this year you can give gifts of up to $13,000 to as many individuals as you want without being liable for gift tax? Normally, any gift you make counts towards