Archive for Personal Finance

Asset Sales Versus Stock Sales: What You Need to Know

April 19th, 2016

Selling a business is never a decision that should be made lightly. A business is something that you’ve likely worked hard to build from the ground up into the entity that you always hoped it could be – you don’t want to sell yourself short now that you’re moving onto bigger and better things. When […]

Are You Ignoring Retirement?

March 22nd, 2016

Article Highlights: Predicting Social Security Income Planning for the Future Employer Retirement Plans Tax Incentive Retirement Savings Plans Are you ignoring your future retirement needs? That tends to happen when you are younger, retirement is far in the future, and you believe you have plenty of time to save for it. Some people ignore the […]

ABLE Accounts And Individuals With Disabilities

March 1st, 2016

Article Highlights: Asset limitations when receiving Medicaid or federal Supplemental Security Income $100,000 account limit Similar to Sec 529 education savings accounts Annual limit on contributions Qualified expenses Congress created Achieving Better Life Experience (ABLE) accounts in 2014. Prior to the creation of the ABLE accounts, individuals with disabilities who were eligible for Medicaid or […]

Homeowner Energy Tax Credits Get New Life

February 16th, 2016

Article Highlights: Home Energy-Saving Improvements Solar and Other Types of Energy Generation Systems Things to Consider Before Signing Up Recently passed legislation has given new life to two homeowner energy credits that had expired or were about to expire, providing renewed opportunities to homeowners wanting to take advantage of these credits and reduce their energy […]

Are Legal Expenses Tax Deductible?

January 26th, 2016

Article Highlights: Legal Fees Associated With Personal, Living, or Family Issues Legal Fees Associated With Business and the Production of Taxable Income Examples of Legal Fees and Their Deductibility The Tax Benefit of Legal Fee Deductions A frequent question that arises is whether legal expenses are deductible. The answer to that question can be both […]

Important Reminder For Purchasing Your Health Insurance Through The Government Marketplace

January 5th, 2016

Article Highlights: Determining Household Income The Advanced Premium Tax Credit Marketplace Estimate of Income Modified Adjusted Gross Income Who Is Family For Health Insurance Purposes? When applying for insurance through a state or the federal health insurance marketplace, you will be asked to provide an estimate of your household income for 2016. Your household income […]

Unpaid Debt Can Take Your Refund

December 29th, 2015

Article Highlights: Bureau of the Fiscal Service Allowable Refund Offsets Disputing an Offset Injured Spouse Claim As the 2015 tax season approaches, you may be getting excited about your potential tax refund. However, that excitement may be premature if you have outstanding federal or state debts. The Treasury Department’s Bureau of the Fiscal Service (BFS) […]

Don’t Be Scammed By Fake Charities

December 8th, 2015

Article Highlights: Scammers and charitable contributions How to check on legitimate charities Disaster scammers As the end of the year approaches, you will probably be besieged by requests from charitable organizations for contributions. The holiday season is the favorite time of the year for charities to solicit donations. But you should be aware that it […]

Have You Taken Your Required Minimum IRA Distribution?

December 1st, 2015

Article Highlights: Required Minimum Distributions When the Distributions Must Begin RMD Distribution Tables Figuring the Amount of the Distribution IRA-to-Charity Transfers As year-end approaches, this is a good time to make sure you have taken your required minimum distribution (RMD) for 2015. What is an RMD, you ask? The tax code does not allow IRA […]

Was Your No-Health-Insurance Penalty A Surprise?

November 3rd, 2015

Article Highlights: 2014 Uninsured Penalty Notices Flat Dollar Amount Penalty Percentage of Income Penalty Penalties Increase in 2015 and 2016 A tweet from an Indiana resident by the name of Benjamin Miller, including a picture of the IRS notice he received advising him that he owes $2,344 as a penalty for not having health insurance, […]


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October 17, 2008
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