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Taxes

Tax Concerns

Tax Preparers Can Be Loan Sharks

Be aware of potential loan sharks out there during the first few months of the year. Most people think of the Mafia, Mob or Gangsters when they hear the term loan sharks. Today we have corporate loan sharks who are operating within the law and charging consumers 7%, 10%, 70%, 700% on loans. ... more

Managing Tax Deductions and Credits

Caring for Aging Parents

As life expectancies continue to increase, it becomes increasingly likely that you may need to financially help an aging parent. If you find yourself in that situation, review the tax laws to determine whether you can obtain some tax relief. The key is to determine whether you can deduct your... more

Tax Strategy and Planning Tips

Tax Bill Rescues for the Self-Employed

By James O'Brien There's no question about the rules for some 18 million Americans who've made something good for themselves in the world of self-employment. Professionals who earn a decent living at what they do, working for themselves, face quarterly taxes. If you expect to owe more than... more

Tax Planning Basics

The Kiddie Tax

Kids can't vote. As if that wasn't already obvious, Congress really drove the point home in the 1986 Tax Reform Act with the creation of the so-called "kiddie tax." In spite of the rules having been around for a few years, many are still confused on this legislation. The Kiddie Tax only applies... more

Estate Taxes Planning

Understanding the Tax Ramifications of an Inherited Roth IRA

"Be sure to read the fine print." It's neither complex, nor profound advice. Yet, it isn't easy advice to follow when you are navigating your way through pages and pages of IRS rules and regulations governing the way you manage your retirement savings plans. It quickly becomes clear that the IRS... more

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