The Ins and Outs of Tax on “Income Investments”
Many investors, especially more risk-averse ones, hold much of their portfolios in “income investments” — those that pay interest or dividends, with less emphasis on growth in value. But all income investments aren’t alike when it comes to taxes. So…
Read moreRetirement Savings Opportunity for the Self-Employed
Did you know that if you’re self-employed you may be able to set up a retirement plan that allows you to contribute much more than you can contribute to an IRA or even an employer-sponsored 401(k)? There’s still time to…
Read more2 ACA Taxes That May Apply to Your Exec Comp
If you’re an executive or other key employee, you might be rewarded for your contributions to your company’s success with compensation such as restricted stock, stock options or nonqualified deferred compensation (NQDC). Tax planning for these forms of “exec comp,”…
Read moreAccelerate Your Retirement Savings With a Cash Balance Plan
Business owners may not be able to set aside as much as they’d like in tax-advantaged retirement plans. Typically, they’re older and more highly compensated than their employees, but restrictions on contributions to 401(k) and profit-sharing plans can hamper retirement-planning…
Read more“Bunching” Medical Expenses Will Be a Tax-Smart Strategy for Many in 2017
Various limits apply to most tax deductions, and one type of limit is a “floor,” which means expenses are deductible only if they exceed that floor (typically a specific percentage of your income). One example is the medical expense deduction….
Read moreInvestors: Beware of the Wash Sale Rule
A tried-and-true tax-saving strategy for investors is to sell assets at a loss to offset gains that have been realized during the year. So if you’ve cashed in some big gains this year, consider looking for unrealized losses in your…
Read moreWhy You Should Boost Your 401(k) Contribution Rate Between Now and Year End
Why you should boost your 401(k) contribution rate between now and year end One important step to both reducing taxes and saving for retirement is to contribute to a tax-advantaged retirement plan. If your employer offers a 401(k) plan, contributing…
Read moreWatch Out for Potential Tax Pitfalls of Donating Real Estate to Charity
Charitable giving allows you to help an organization you care about and, in most cases, enjoy a valuable income tax deduction. If you’re considering a large gift, a noncash donation such as appreciated real estate can provide additional benefits. For…
Read moreThe ABCs of the Tax Deduction for Educator Expenses
At back-to-school time, much of the focus is on the students returning to the classroom — and on their parents buying them school supplies, backpacks, clothes, etc., for the new school year. But let’s not forget about the teachers. It’s…
Read moreYes, You Can Undo a Roth IRA Conversion
Converting a traditional IRA to a Roth IRA can provide tax-free growth and the ability to withdraw funds tax-free in retirement. But what if you convert a traditional IRA — subject to income taxes on all earnings and deductible contributions…
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