Tax Planning Tutorial: This Fee Only Planner Thinks It’s Time To Clear up the Confusion Over the Gift Tax Law

There are many confusing tax laws, but the one that seems to generate the most misunderstanding is the gift tax law. Everyone seems to be aware that people can give up to $13,000 (this amount is periodically adjusted for inflation) a year with no tax consequences – but beyond that it’s fuzzy. A client asked me today if she would have to pay tax on a $100,000 gift her parents were planning to give her to buy a house. The answer is no.

6 Year-End 2016 Tax Planning Tips and Reminders

Don’t let the year slip away without doing a little tax planning – the financial benefits will be worth your time. All of the below tips and reminders must be done by December 31, or you either forfeit the opportunity or pay penalties. 1. Max Out Qualified Plan Contributions If your cash flow can stand it […]

10 Family and Individual Tax Breaks You Should Know About

Given the timing (right in the midst of the holiday season), you might have missed hearing about some favorable last-minute tax legislation (also known as the Protecting Americans from Tax Hikes Act of 2015), that will benefit your wallet. There is a little something for everyone and best of all, it makes some of the […]

A Little Year End Tax Planning with Your Holiday Punch

Or,  8 Year End Tax-Related Deadlines and Things to Think About With the busyness of the holiday season, it’s easy to forget about things like tax planning. After all, we’d rather focus on having fun with our friends and family! However, there isn’t much you can do to improve your tax situation after December 31st […]

Short List for your Finances 2014

There are many actions you can take to improve your finances, and that’s sometimes the problem. I have compiled a short list of ideas that can make a real difference in your financial health. Copy and paste this short list into Evernote or other list-making software or  print it out and tape it to your […]

Finglish Lesson #3: “Fiscal Cliff” and “Taxageddon”

The “fiscal cliff” and “taxageddon” refer to a convergence of fiscal events (or government spending and tax policies that influence the economy) slated to occur almost simultaneously at the end of 2012. If these terms aren’t on your radar yet, they are sure to be soon, as the media loves nothing better than drama and […]

Book Review: Small Business Taxes Made Easy, 2nd edition, by Eva Rosenberg.

As a financial advisor, I’ve read my share of tax books. So, I poured myself a strong cup of coffee, made sure I wasn’t too comfortable and opened Small Business Taxes Made Easy by Eva Rosenberg. After reading the first few pages, I realized that this tax book was different. First of all, I enjoyed […]

“April is the Cruellest Month…” or You and Your Taxes

If you’ve been reading my blog, you know that I’ve been writing about the Ten Simple Truths About Money.  These truths are meant to act as a framework to provide new ways for you to think about money that are easy to understand and implement.  Simple Truth #4 is “Inflation and Taxes Are Money’s Enemies.”  […]