Taxation of Investments

Taxation of Investments It’s nice to own stocks, bonds, and other investments. Nice, that is, until it’s time to fill out your federal income tax return. At that point, you may be left scratching your head. Just how do you report your investments and how are they taxed? Is it ordinary income or a capital […]

Tax/Self Employed

Tax Planning for the Self-Employed Self-employment is the opportunity to be your own boss, to come and go as you please, and oh yes, to establish a lifelong bond with your accountant. If you’re self-employed, you’ll need to pay your own FICA taxes and take charge of your own retirement plan, among other things. Here[…..]


Tax Planning for Income The goal of income tax planning is to minimize your federal income tax liability. You can achieve this in different ways. Typically, though, you’d look at ways to reduce your taxable income, perhaps by deferring your income or shifting income to family members. You should also consider deduction planning, investment tax[…..]


Tax Planning for Annuities Favorable tax treatment is one of the main reasons for buying an annuity. But what exactly are the tax benefits? And are there any drawbacks? It’s important to know the answers to these questions before deciding whether to purchase an annuity. Of course, any information pertaining to taxes is complex, full[…..]

Deferred Annuities

Tax-Deferred Annuities: Are They Right for You? Tax-deferred annuities can be a valuable tool, particularly for retirement savings. However, they are not appropriate for everyone. Five questions to consider Think about each of the following questions. If you can answer yes to all of them, an annuity may be a good choice for you. Are[…..]

Home Ownership

Tax Benefits of Home Ownership In tax lingo, your principal residence is the place where you legally reside. It’s typically the place where you spend most of your time, but several other factors are also relevant in determining your principal residence. Many of the tax benefits associated with home ownership apply mainly to your principal[…..]

Home Office

Home Work: Deducting Your Home Office With the rise of cell phones and the Internet – not to mention a growing fluidity to employment situations – more Americans are choosing to telecommute and work from home. The tax deduction for home-office expenses is among the most misunderstood and misused (if not unused) tax questions faced[…..]

Gift Tax Basics

Gift Tax Basics The federal government imposes a substantial tax on gifts of money or property above certain levels. Without such a tax, someone with a sizable estate could give away a large portion of their property before death and escape estate taxes altogether. For this reason, the gift tax acts more or less as[…..]

Capital Gains

Tax Issues with Capital Gains and Dividends Under the Jobs and Growth Tax Relief Reconciliation Act of 2003, generating long-term capital gains or investing for dividend income could be two of your big opportunities to save on taxes. Be aware that the Act of 2003 created “sunset provisions,” however, meaning that the tax rates on[…..]

Sale Of Home

How Capital Gains from the Sale of a Home Are Taxed For most of us, our home represents our largest asset. Over time, the management of this asset can make a big difference in our overall financial outlook. One of the largest planning opportunities home ownership brings is the favorable tax treatment afforded the sale[…..]