Navigating the Legacy: A Comprehensive Guide to Estate Planning for Baby Boomers
The baby boomer generation, a demographic cohort born between 1946 and 1964, is on the cusp of a significant transition. As they approach later stages of life, the importance of comprehensive estate planning cannot be overstated. This generation, one of the largest in history, faces a unique set of challenges and opportunities when it comes […]
Ticket Sale Profit Tax Liabilities: Lessons From Taylor Swift
In the whirlwind world of entertainment, scoring tickets to hot events like Taylor Swift’s highly anticipated Eras Tour can feel like striking gold. With demand soaring, some savvy individuals have seized the opportunity to turn concerts like Taylor’s into profitable ventures. However, what many may not realize is that selling tickets at a profit comes […]
Sold Your Home Last Year? Thinking of Selling? Read This!
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
Video Tips: Novel Way for Taxpayers to Donate to Maui Wildfire Relief
The IRS has made it possible for employees to donate their unused paid vacation time, sick leave, and personal time off as a donation to qualified Maui wildfire relief charities.
Tax Deductions For Content Creators: The Wild Side of Write-Offs
In the relatively new content creation industry, creators often find themselves in unique – and, frankly, bizarre – tax situations in their quest to go viral or amass a major following. What people don’t always of them don’t realize, however, is that these extraordinary experiences can sometimes lead to remarkable tax deductions. So, let’s delve […]
New Tax Law Cracks Down on Home Mortgage Interest
Article Highlights: Acquisition Debt Interest Equity Debt Interest Consumer Interest New Tax Law Changes Note: This is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which passed in late December of 2017, could affect you […]
Video Tips: Inheritance Taxes Explained – Key Insights and Tips for Estate Planning
Discover the essentials of inheritance taxes in our latest video, where we break down the differences between estate and inheritance taxes and who is responsible for paying them. If you have any questions or need personalized advice, don’t hesitate to contact this office for expert assistance.
Home Ownership – Your Best Tax Shelter
Homeowners Receive Big Tax Breaks Home ownership can provide you with important tax benefits: Deductions for real estate taxes and home mortgage interest, and Gain exclusion if you meet certain occupancy and holding period requirements. If you install a solar electric system on your residence before 2022, you can qualify for a substantial tax […]
Is a Reverse Mortgage Right for You?
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
Video Tips: Secure Your Legacy – Why Updating Beneficiaries is Crucial
Is it time to review your beneficiaries? Life changes like marriage, divorce, or a new child can affect your wishes. Keep your legacy secure by updating your documents to reflect your current intent.