Social Security benefits not tax-deductible. If (even if you do not hit the earnings test) income, investments or other sources, such as retirement savings plan withdrawals from a job, you can be up to 85% of your benefits, owe federal income tax. Social Security taxes are based on what you […]
My family is considering setting up a fund to inform donors, three generations together can support charities decision. How much money, we need to open this type of fund, and we got our contribution tax credit? Many brokerage firms, mutual fund companies and community foundations allow you to open a […]
This is tough enough, when the spouse died. But in taxes, the survivors should be ready to fight another: a bigger tax label, is called a widow (or widower) penalty When the spouse dies, the survivor income may decline. However, for single filers tax bracket threshold value is relative to […]
This is the time of year when many of us count our blessings, if you own stocks and mutual funds, you might have a lot of blessings to count. But in the end, most of us have to share some of our good fortune with the IRS. With the year […]
Home values are up, which may mean your property taxes have gone up. But if you think they are too high? You may have a reason to appeal, in most cases, you can do it yourself. Step 1 First, find the error may be unfairly exaggerate the value of your […]
I should give stock or cash to charity? What steps do I need, if I want to give the stock? Whether it makes more sense to give or sell shares of stock and cash donations depending on whether the stock increase or decline in the value, since you bought it […]
At the end of the year is fast approaching, which means you have just a few days, in order to reduce your tax bill in 2014. Thanks to the long-term bull market, many investors are sitting on big gains. Year-end smart planning can check your portfolio to lower your taxes […]
Will my Social Security benefits taxable? It depends on your income. Taxation of Social Security benefits are based on your “total income”, this is your adjusted gross income plus 50% tax-free interest and your social security benefits (bottom of the table on page 1 1040). If your total income is […]
I live in my house for eight years, but I’m moving to a new job and plans to sell it quickly. What is the sale of a home tax rules? – BD, Heat For most sellers have no tax consequences, because most home for sale profits duty free. Suppose you […]
This is tough enough, when the spouse died. But in taxes, the survivors should be ready to fight another: a bigger tax label, is called a widow (or widower) penalty When the spouse dies, the survivor income may decline. However, for single filers tax bracket threshold value is relative to […]
