Tag: accounting advice

Cut Taxes With Lifetime Giving

Cut Taxes With Lifetime Giving

If you want certain individuals to receive property from your estate, there may be advantages to making those gifts while you are still alive. Consider these facts about making lifetime gifts: Gifts to spouses. The tax law permits a married individual to make gifts of any amount to a spouse without incurring any gift tax. The value of these gifts is…

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The Alternative Minimum Tax: Will it affect you?

The Alternative Minimum Tax: Will it affect you?

In your tax planning, don’t overlook how your tax-saving strategies might be impacted by the alternative minimum tax. What is the alternative minimum tax? Enacted back in 1969, the alternative minimum tax (AMT) is a separate income tax calculation that was designed to make sure that high-income taxpayers pay a minimum amount of taxes, even if they have sufficient deductions…

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Tax strategies for homeowners

Tax strategies for homeowners

Be aware that important tax consequences are often associated with some fairly common events involving your home. Here are some handy things to know. Home purchase. When purchasing a home, you may pay a portion of the mortgage interest in advance. This loan origination fee, or “points,” is a percentage of the total amount borrowed. If points are paid for…

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High medical bills? Consider these 3 tips to save…

High medical bills? Consider these 3 tips to save…

With increasingly high costs of medications, doctor visits and hospital stays, remaining healthy has become an expensive proposition. In addition, it seems as though health insurers are passing along more and more costs in the form of higher deductibles, increased premiums and larger co-payments. Out-of-pocket costs for even one hospital stay could break a household budget. Fortunately, you can control…

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Seasonal spender or credit card addict?

Seasonal spender or credit card addict?

It’s not a big surprise if you found yourself reaching for your credit card more often around the holidays. The National Retail Federation projected that consumers would spend an average of $1,007 on gifts, decorations,and candy this season. However, if you’ve noticed your plastic habits don’t fluctuate throughout the year, it could mean you’re living beyond your means … and…

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