With the dawn of 2019 on the near horizon, there are many items that you need to take care of before the end of 2018. here’s a quick list of tax and financial to-dos you should address before the end of the year. Check your FSA balance. If you have a Flexible Spending...
The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Before you begin shopping or sending out invitations, though, it’s a good idea to find out whether the expense is...
Once upon a time, some parents and grandparents would attempt to save tax by putting investments in the names of their young children or grandchildren in lower income tax brackets. To discourage such strategies, Congress created the “kiddie” tax back in 1986. Since...
We’re entering the giving season, and if making financial gifts to your loved ones is part of your plans — or if you’d simply like to reduce your capital gains tax — consider giving appreciated stock instead of cash this year. Doing so might allow you to eliminate all...
During the holiday season, it is natural for business owners to think about giving something to key individuals. On your list might be your employees, customers, suppliers, or others who helped your business during the year. If you have not already made plans, do so...
Mortgage interest rates are still at low levels. But they likely will increase as the Fed continues to raise rates. So if you’ve been thinking about helping your child buy a home, consider acting soon. There also are some favorable tax factors that will help: 0%...
Last year you may have made significant gifts to your children, grandchildren or other heirs as part of your estate planning strategy. Or perhaps you just wanted to provide loved ones with some helpful financial support. Regardless of the reason for making a gift,...
It's Christmas time. And while you may be doing your last minute shopping for that hard to shop for relative, you also need to be considering meeting your 2016 annual gift exclusion. By making tax-free gifts to loved ones during their lifetime, affluent individuals...
It’s common for parents, grandparents and others to make gifts to minors and college students. Perhaps you want to help fund education expenses or simply remove assets from your taxable estate. Or maybe you’re hoping to shift income into a lower tax bracket. Whatever...
Many grandparents would like to help their grandchildren with the steep costs of higher education. That’s often a laudable goal, but some methods of providing this assistance might be more effective than other tactics. Gifting aid for college costs The simplest tactic...
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