For 2018, taxpayers can itemize medical expenses that total only 7.5% of AGI.
Posted in Individual Tax Planning
Posted in Individual Tax Planning
Posted in Individual Tax Planning
Can You Reduce 2017 Taxes by "Harvesting" Depreciated Stocks?

Posted by Lesley L. Price, CPA on Nov 28, 2017
This is the time of year to start thinking about depreciated stock, it may help you reduce your 2017 tax bill.
Posted in Individual Tax Planning
Choose one of three tax-savers
Now that your children are back in school, you might consider the available tax breaks for higher education expenses. Following extensions and modifications under the Protecting Americans from Tax Hikes (PATH) Act of 2015, there are three primary tax provisions that may benefit parents: the American Opportunity Tax Credit (AOTC), the Lifetime Learning Credit (LLC) and the tuition deduction.
Posted in Individual Tax Planning
When was the last time you checked the beneficiaries you selected for your qualified retirement plan or IRA? Chances are that the choices you made when you initiated the account may no longer be appropriate. Anyone with funds in one or both of these accounts should have at least one beneficiary listed should anything happen to the owner.
Posted in Individual Tax Planning
Divide interest into these categories
Are interest expenses deductible? The answer is a complicated “yes and no.” Essentially, it depends on the type of interest expense incurred. Although there are technically other types, interest expenses can be lumped into four main baskets for tax purposes.
Posted in Individual Tax Planning