Last-Minute Tax Check

Last-Minute Tax Check

As tax time grinds on, it’s all about documents, documents, documents. We talked about it a little bit, but I thought maybe we could go into further detail. Get together last year’s tax return: Especially when going to a new accountant, you need to dust off your...
Tax Strategies for Bequeathing Your Wealth

Tax Strategies for Bequeathing Your Wealth

When people are planning their estates, they often come to the point where they have to decide how to distribute a lump sum of money. The reason it’s an issue is, of course, taxes. While the federal inheritance tax has a fairly generous threshold at $13,610,000 for...
Divorce: Knowledge is Power

Divorce: Knowledge is Power

If you’re contemplating a divorce, it’s really important — even before you go to an attorney — to get your paperwork in order. The best defense is not offense, it’s knowledge. Granted, achieving that knowledge is easier said than done, especially in the...
Pre-Tax Preparation

Pre-Tax Preparation

As January 31 approaches, your mailbox should start filling up with forms like we talked about last week and earlier this month. But we’re not done! Form 1098: Use Form 1098 (Info Copy Only) to report mortgage interest of $600 or more received by you during the year...
Know Your Forms

Know Your Forms

The gig economy — and 2024’s new reporting rules for PayPal, etc. — are going to make 1099s more “popular” than ever. There is a dizzying array of situations that call for 1099s, and it’s on us to know.    For example, there’s a long-standing rule at the IRS which...