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Tax Considerations for Retirees

Tax Considerations for Retirees

Are you aware of these potential tax breaks and tax-saving opportunities? The federal government offers some major tax breaks for older Americans Some of these perks deserve more publicity than they receive.   At age 65, the Internal Revenue Service gives you a larger...
New I.R.S. Contribution Limits

New I.R.S. Contribution Limits

Changes for 2020  The I.R.S. just increased the annual contribution limits on IRAs, 401(k)s, and other widely used retirement plan accounts for 2020. Here’s a quick look at the changes. Next year, you can put up to $6,000 in any type of IRA. The limit is $7,000 if you...
End-of-the-Year Money Moves

End-of-the-Year Money Moves

Here are some things you might consider before saying goodbye to 2019. What has changed for you in 2019? Did you start a new job or leave a job behind? Did you retire? Did you start a family? If notable changes occurred in your personal or professional life, then you...
Overlooked Tax Deductions for Small-Business Owners

Overlooked Tax Deductions for Small-Business Owners

Helpful tips for tax time Being a small-business owner isn’t easy. After all, balancing payroll, managing employees, drawing up marketing plans, and handling the bookkeeping can be stressful! Luckily, the Internal Revenue Service (I.R.S.) allows small-business owners...
The Gift Tax – How to Gift Wisely

The Gift Tax – How to Gift Wisely

  Not all gifts are taxable I’d like for you to meet my friend, Hugh. He’s a retired film stuntman who, after a long career, is enjoying his retirement. Some of what he’s enjoying about his retirement is sharing part of his accumulated wealth with his family,...