Under the right circumstances, Intentionally Defective Irrevocable Trust (IDIT) ) can be an effective property tax planning tool. These trusts are created to intentionally fail certain...
Posted by Daniel P Vigilante CPA and Profit Consultants on 09/10/2021
What Are Medicare Savings Programs?If your family's income and resources fall below certain levels, you may be eligible for one of five federally funded programs to help pay for...
Posted by KLSM CPA Firm PLLC on 09/09/2021
Military personnel are some of the people who make the largest sacrifice. Such a line of job comes with severe hardships, so Uncle Sam offers some compensation in a bid to cushion...
Posted by Rosovich & Associates, Inc. on 08/30/2021
Young families should make these changes throughout the year to keep their taxes low. Here are the areas you should be looking to save:Give yourself a raise.If you received a huge...
Posted by Income Taxes and Bookkeeping LLC on 08/06/2021
With a health savings account (HSA), anyone that has a high deductible health plan that qualifies can use pre-tax dollars for approved medical expenses. The money is kept using an...
Posted by Jim McClaflin, EA, NTPI Fellow on 06/25/2021
The 4% rule is a common rule in retirement planning to help you avoid running out of money during retirement. It is said that you can comfortably withdraw 4% of your savings in the...
Posted by James Financial Services Inc on 06/18/2021
We live in a world where money is king and the art of saving for a rainy day is something we should all master, including children. So now is the best time to teach your kids valuable...
Posted by The TaxAdvocate Group, LLC on 06/11/2021
Traditional and Roth IRAs may be the king and queen of the retirement prom, but there are other great options that savers shouldn't ignore.Although there are lesser-known SEP,...
Posted by Jim McClaflin, EA, NTPI Fellow on 06/06/2021
Health Savings Accounts (HSAs) are individual savings accounts with tax benefits designed specifically to pay the medical bills of people enrolled in High Deductible Health Plans (HDHP).As...
Posted by James Financial Services Inc on 05/30/2021
