If you have Medicare insurance (including supplemental), you know it can be expensive to get the coverage you want. But you may be able to deduct the cost of premiums, along with other medical expenses, on your tax return. Here are the rules.
Read MoreTax planning is still important after you retire. Here are some of the tax implications of retirement.
Read MoreIf you’re subject to the 3.8% net investment income tax, you should include it in your tax planning. Here is who the tax applies to and some strategies to minimize it.
Read MoreThe pandemic has caused some people to turn to “gig” work to make up for lost income. Here are the tax consequences of taking on these jobs.
Read MoreIf you’re trying to keep straight all of the tax proposals the Biden administration has recently announced, here’s a handy guide.
Read MoreAmericans got extra time to file their tax returns this year, but the deadline is looming. Here’s what to do if you’re not ready.
Read MoreWhat could President Biden’s tax proposals mean for you? Here’s a brief rundown of the “American Families Plan.”
Read MoreThe IRS imposes penalties for failing to pay taxes due and failing to file required tax returns. With the May 17 filing deadline coming up, it’s a good time to review the amount of the penalties.
Read MoreMany tax changes have been enacted recently to help mitigate the financial damage caused by COVID-19. They may affect you if you collected unemployment last year or if you buy health insurance through a “Marketplace.”
Read MoreWhen you sell your home, you’ll pay tax (or avoid it) based on the “basis” of the property. Here’s how to determine yours.
Read MoreLife insurance benefits can help loved ones after your death. But you may want to keep proceeds from a policy out of your taxable estate. Here are some considerations.
Read MoreAre you eligible to receive direct payments under the new law that passed on March 11?
Read MoreThe latest COVID-19-related stimulus bill, the American Rescue Plan Act, has now passed. How can you benefit?
Read MoreSaving for retirement can help make your future brighter. Recent tax law changes might allow you to save more with your IRA or retirement plan.
Read MoreSaving now for retirement is one of the best moves you can make to help ensure financial security. If you’re eligible, you still have time to contribute to an IRA or SEP and save on your 2020 tax return.
Read MoreIn order to claim a charitable deduction on your tax return of $250 or more, you need a written acknowledgment from the charity. What if you haven’t received one yet for a charitable donation you made in 2020?
Read MoreHow much can you contribute to an IRA for 2021? How much is the standard deduction? Here are some Q&As about these and other tax-related amounts for 2021.
Read MoreThinking about buying a new electric vehicle? While you’re considering factors like acceleration and the range of the battery before recharging, check out the federal tax break that may be available.
Read MoreIf you’re required to take distributions from a retirement plan, you may have received a respite in 2020, but you must begin taking them again this year.
Read MoreMedical and dental costs are expensive and it’s hard to get a tax deduction for them. But you may qualify by including every eligible expense allowed. Here’s what it takes to get a deduction and how you might be able to benefit by moving certain expenses into 2020.
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