With the escalating cost of health care, many people are looking for a more cost-effective way to pay for it. For eligible individuals, a Health Savings Account (HSA) offers a tax-favorable way to set aside funds (or have an employer do so) to meet future medical needs. Here are four tax [...]
If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year end when the final results of your trades will reveal your 2023 tax situation. Here’s what you need to know to avoid tax surprises. [...]
Now that Labor Day has passed, the holidays are just around the corner. Many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate, within generous limits, [...]
Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of existing homes sold in July of 2023 rose 1.9% over July of 2022 after a couple years of much higher increases. The median home price [...]
If your employer provides life insurance, you probably find it to be a desirable fringe benefit. However, if group term life insurance is part of your benefits package, and the coverage is higher than $50,000, there may be undesirable income tax implications. You’re taxed on income you didn’t [...]
- Evaluate whether a Health Savings Account is beneficial to you
- Investment swings: What’s the tax impact?
- Plan now for year-end gifts with the gift tax annual exclusion
- Selling your home for a big profit? Here are the tax rules
- The tax consequences of employer-provided life insurance
- Disabled family members may be able to benefit from ABLE accounts
- Can you deduct student loan interest on your tax return?
- Pocket a tax break for making energy-efficient home improvements
- Moving Mom or Dad into a nursing home? 5 potential tax implications
- Retirement account catch-up contributions can add up