These days weddings can easily break the piggy bank. But you can help to defray some of your costs with careful planning. There are tax write-offs that you can take advantage of, if you take the … Read More
Confused about the Circuit Breaker Tax Credit? You’re not alone. Perhaps this can help you to understand it. This is a state income tax credit available to those over 65, who pay rent or real estate … Read More
Tax season’s over? Wrong. Choices we make during the year can impact our taxes. Making investments, paying for college education, planning for retirement, and a myriad of other financially-based decisions can help or hurt us when … Read More
January is when most people start thinking about taxes. And, for a great deal of them, April 15th is when they stop. But tax minimization is just the beginning of a holistic approach to financial long … Read More
Starting January, 2014, the IRS will implement changes to the limits in gift giving. For estate planning, this means an additional $90,000 will be tax free bringing the exclusion amount from $5,250,000 to $5,340,000. This applies … Read More
Last January, Massachusetts’s governor Deval Patrick was in favor of the ‘tech tax’ (sales tax on computer services) saying it would help fund improvements to the State’s transportation systems. Now, however, he has had a change … Read More
While there are several updates and changes that Congress has enacted, this post deals with Itemized Deductions on Schedule A. If you elect to itemize your allowable personal deduction items on Schedule A then there are a … Read More
I can’t say that DOMA did not make for some interesting tax strategies. The latest from the SCOTUS makes tax filing simpler for our same sex couples here in Mass. Let’s see what the IRS decides … Read More
Faris Fink, the commissioner of IRS’s Small Business and Self-Employment Division has caused a major uproar by his portrayal of the Vulcan commander on a mission to bring effective tax practices to a faraway planet. The … Read More
Taxes done? Well don’t expect to sit back and relax until 2014. The ‘Dirty Dozen’ are lurking and you could be a target. The IRS recently released the top tax scams that you need to be … Read More