When building your credit or being vigilant about avoiding identity theft, it is important to check your credit report regularly. While the credit score may be the most talked-about item on your credit report, the credit report is bigger than just a numerical rating. The credit report itself is a detailed listing of all […]
Tax season is a stressful time for millions, but for the population which will receive tax refund, it could well be termed a joyous time. The tax refund is nothing but money coming back after being loaned to the government at negligible interest rates. However, practically, it is often an unexpected cash infusion into […]
The thing about emergencies is that we do not see them coming. The first step to counter the unforeseen is to prepare financially for the possibility. Having the money required to pay the medical bills or get through the weeks or even months of being out of work is very critical. Having an emergency […]
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 […]
