What Is a Capital Gain Distribution?

You receive a taxable gain statement at the end of the year, but you didn’t sell any investments. How can this be? Typically, mutual funds buy and sell stocks or bonds throughout the year. Each time the fund sells an investment, its owners owe tax on their share of any gain. At the end of […]

Time for Mistletoe and Savings

‘Tis the season for shopping! To many, the holidays are the most wonderful time of the year and also the most difficult time for a budget. Why not save money this season by following some of these easy tips: Holiday cards: Send a holiday postcard rather than a card or letter to reduce postage costs. […]

Protect Against Nursing Home Theft

Although the administrators and staff of most assisted living facilities work hard to carry out their duties with integrity, some steal from the residents. If one of your family members or friends lives in a nursing home or other assisted living facility, watch for these warning signs of theft: Questionable financial management. It’s often a […]

Creating Financial Goals as a Couple

Financial goals make it possible for you and your partner to achieve the things you dream about. Here are three things you can do to create – and achieve – financial goals as a couple: Start talking sooner rather than later. Finances can be hard to talk about. People sometimes feel guilty about debt or […]

Tips To Help Make College More Affordable

With the cost of college rising rapidly, it can be overwhelming to think about how to pay your way through school for either yourself or your kids. Fortunately, saving hundreds, even thousands, is possible. Teenagers can help keep down the cost of their future college tuition by taking the following classes and exams while in […]

Tips to Organize Your Tax Records

As important tax records start filling mailboxes, how can you make sure your tax preparation goes smoothly and efficiently this year? Here are some tips. Keep it all in one place. It seems obvious, but how often have you found yourself going through piles of paper looking for that elusive missing 1099 tax form or […]

Tax Software: Is it the Best Way to Go?

Some popular tax preparation software is relatively inexpensive, but what does using software to prepare your taxes really cost you? Missed deductions and tax credits, improper or overlooked tax elections, unnecessary penalties, and neglected long-term tax planning can be very expensive. Are you familiar with the rules and qualified to tackle your taxes by yourself? […]

Using Losers to Make Winners

Understanding the rules surrounding investment losses can really help minimize your tax obligation each year. This is because investment gains and income can be subject to a variety of federal tax rates as high as 37 percent. This and a 3.8 percent Medicare investment tax surcharge make planning around when to take investment losses an […]

Don’t Become a Social Media Fraud Victim

Facebook, Twitter, Snapchat, and other social media sites provide innovative ways to connect with friends, share recipes and even find your soulmate. Such sites are also a treasure trove for cybercriminals. Day in and day out crooks scan social media accounts to glean personal information. Their goal? Steal your identity and/or pilfer your bank accounts. […]

Cash or Accrual? What’s the Difference?

When you start a business, you have many decisions to make. One of those is the method of accounting your business will use for reporting income and expenses on your tax return. It is an extremely important decision. With few exceptions, the method you choose can only be changed in the future with the IRS’s […]