If you or someone you love is thinking about a viatical settlement, you might be wondering if you have to pay taxes for your payout.Most people seem to believe that all income from...
When you lose a loved one, taxes may be the last thing on your mind. But the task of filing the final tax return for a deceased person may fall on a relative or a friend.If you are...
Tax credits, such as elderly tax credit and the disabled, are credits applied to taxes owed. For example, if you owe $2,000 in taxes and have a loan of $700, you only have to pay $1,300....
In December 2017, major tax reform was launched, which concerns individuals and businesses. It is commonly known as the Tax Reduction and Employment Act, TCJA, or Tax Reform. Most...
In general, any form of military payment obtained while deployed to a combat zone is excluded from federal income tax. This translates into significant tax savings for the active combat...
There are two distinct programs that pay Veteran Survivors some form of benefits as long as their death is connected to service. These benefits are dependence and indemnity compensation...
Variable annuities are packed with tax benefits which is why investors are in love with it. Until you take the money out, it will compound tax-free. The products are selling at the...
Posted by Carmen Garcia on 07/09/2020
The CARES Act recently passed into law some measures to stimulate the economy. There is a provision that allows retirees to stop taking Required Minimum Distributions (RMD) from 401(k)...
Posted by Carmen Garcia on 06/22/2020
When you receive an inheritance, regardless of the amount, you need to understand how to get the most out of it. Depending on who left you the inheritance, you may have different emotions...
Posted by Elliot Kravitz, ATP on 06/11/2020