Are you considering post-retirement employment? If you’re collecting social security and thinking of returning to the work force, you may have questions about how your earnings will affect the taxability of your social security benefits. Read more. Are you considering post-retirement employment? If you’re collecting social security and thinking of returning to the work [...]
A lifetime gifting program might trim both your estate and income taxes. First, there’s the annual exclusion for gifts. Currently, you can give $13,000 annually to any number of recipients without paying federal gift tax. Married couples can double this amount by gift-splitting; a gift of $26,000 from one spouse is treated as if it [...]
Check into all the tax credits and deductions for which you might qualify this year. Because some of these tax breaks are reduced or eliminated entirely once your income reaches certain limits, you need to be aware of the income phase-out thresholds for those credits and deductions. While it doesn’t make sense to make less [...]