Asset location is a tax management technique where an investor places the most tax-efficient investments in the least tax-efficient account type and vice versa to reduce near-term taxes. Both asset allocation and asset location are important considerations when building an investment portfolio to meet a client’s specific goals. In essence, asset allocation is what investments are in the […]
With the New Year 2015 fast approaching, there are some year-end tax challenges and opportunities that need careful review. Here are some tax-saving tips that will help save taxpayer money if acted upon before year-end. Review unrealized loss positions within investment accounts and consider realizing the losses. For example, you can sell the original holding […]
A reverse mortgage is typically used to get cash out of your home. Instead of borrowing to buy a home, you are borrowing against a home that you already own. This allows you to use the cash now for expenses, and pay back the loan when you die or sell the home. Individuals 62 years […]
As cloud applications continue to grow at a lightning pace, the word “cloud” finds itself in nearly every conversation regarding technology advancements and improved business efficiency. Virtually every business today is leveraging cloud-based services in some shape or form, including having a customer-facing website and using online banking. It is important to understand how your […]
For most of us, the word ‘estate taxes’ conjures up images of the ultra-rich. However, even with provisions that permanently set the level at which estate taxes kick in at a fairly high amount, you should still know how the tax can affect you. The estate tax in 2014 won’t affect as many people as […]
A portion of your social security benefits may be subject to income tax if your modified adjusted gross income (MAGI), plus one-half your Social Security benefits, exceeds specific limits. Your MAGI equals adjusted gross income (or the adjusted gross income of you and your spouse if married and filing jointly), including wages, interest, dividends, taxable […]
Summer is here and most of us are flocking to the beach or hiring rental properties in the beach? Are you one of the lucky owners who is looking for renting your vacation home? If so, there are a number of tax implications to consider while renting your vacation home. Listed below are some points […]
Accounting firms have embraced technology and eased up the mechanics of doing business online today. Cloud computing, data management systems and exclusive client portals are the order of the day. However, electronic / physical records maintenance must be carried out in a professional and confidential manner due to the various standards & statutes […]
Do you have any plans for donating to charity this year? If travel is part of your service, this article describes expenses that are deductible and those that are not. You cannot deduct the value of your services that you donating to charity, but you may be able to deduct some out-of-pocket costs that you […]
Sometime back, it was hard to have a meeting online without the accompanying transmission delays and fuzzy pictures. Imagine collaboration across cities or countries today – made extremely simplified and productive thanks to the varied collaboration software. Social collaboration software products allow you to create a workspace where all information can be shared […]
