529 state-run plans have always had tax benefits, but recent federal tax law changes have made them even more attractive to many families. Here's what you need to know to get the...
Some laws remain relatively unchanged for decades, if not centuries. However, tax laws are not timeless and must reflect an ever-changing global economy, complex government changes,...
On September 5, 2019, the Treasury Department and the IRS released proposed regulations that would affect when taxpayers report their gross income amounts. In general, section 451...
There are some rules from section 451 (c) as amended by the TCJA, which makes available ways to have advance payment in income for the tax year that it was obtained.The amendment of...
Posted by Elliot Kravitz, ATP on 11/07/2020
The Internal Revenue Service recently published new, higher contribution limits for health savings accounts for 2021. An individual is allowed to contribute $ 3,600, while it is $...
Posted by Carmen Garcia on 10/15/2020
Many baby boomers and retirees prefer to invest in savings bonds because they are safe and convenient investments, but stocks don't always earn interest. Over time, they expire,...
Taxpayers are always looking for legitimate ways to save on taxes and with the right tax preparer, you will always get advice on ways to save on the amount you pay for taxes each season....
Accumulating financial assets in a tough and competitive world is hard work. Yet, no matter how much you have, there are sharks and potholes along the way ready to eat at your financial...
1031 exchange is simply a swap of an investment property for another. Since most swaps are considered sales, they are taxed. Meeting the requirement of 1031 will remove or reduce your...