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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. These loan sharks are national income tax preparation firms who prepare taxes and offer 'loans' in exchange for the anticipated tax refund due an individual. These products are often referred to as... more

Managing Tax Deductions and Credits

5 Smart Ways To Spend Your Tax Refund

Not sure how to wisely spend your tax refund. Find out the best 5 Smart Ways To Spend Your Tax Refund and set yourself up for future financial success. By Paula Pant.   Congratulations, you've gotten a tax refund! Now, what you are going to next?   If the only answer that... more

Tax Strategy and Planning Tips

Getting Ready to File Your Taxes? Don't Miss This Checklist

Tax season is upon us again. April 15th may be the official deadline to file, but it's now time to start gathering everything you'll need so you aren't scrambling in the eleventh hour.   Whether you're planning on doing your taxes yourself or turning your paperwork over to a CPA, there are certain documents you need to make the filing process as easy (and accurate) as possible—and certain things you need to know to net yourself the biggest possible savings.   Here's your tax... more

Tax Planning Basics

The AMT Horror

The Alternative Minimum Tax (AMT) was originally designed to prevent extremely wealthy individuals from skirting their income taxes. Unfortunately, the AMT has grown into a tax trap that haunts millions of Americans each year. But with some understanding and foresight, it is possible to make the AMT work to your advantage. In the 1979 film The Amityville Horror, George and Kathy Lutz (played by James Brolin and Margot Kidder) are plagued by various supernatural phenomena after... more

Estate Taxes Planning

The Surprise Personal Estate Tax Trigger of Group Life Insurance

You have carefully planned your Will provisions for distribution of your estate at your death, thought about and designated your primary and contingent beneficiaries on the 401(k)'s, IRA's, and managed to build a comfortable investment portfolio. You aren't what you would consider ?really rich?, so Estate Taxes shouldn't be a worry for you or heirs, or should they? Maybe. One estate tax surprise that could be waiting for heirs has to do with what is referred to as ?incidents of... more