Individual, Family & Fiduciary Tax
Calculating the tax effects of a crisis averted: The American Taxpayer Relief Act of 2012
History will show that 2013 began not with a bang, but with a sigh — of relief. That was the reaction of many Americans when Congress pulled up just short of the “fiscal cliff” and passed the American Taxpayer Relief Act of 2012 (ATRA). The law should send taxpayers reaching for their calculators to ascertain […]
Reverse mortgages can be helpful (but risky, too)
Reverse mortgages may once have been considered a financial tool primarily for elder care planning. However, these products have slowly been finding a niche for themselves in the broader consumer finance market. If you or a loved one is considering one of these loans, it’s important to know what you’re getting into. How they work […]
3 tax tips for the self-employed
With the job market in many areas as uncertain as the economy itself, more and more people are turning to self-employment. If you count yourself among them, here are three tips to consider: 1. Learn your liability. Self-employed individuals are liable for self-employment tax, which means they must pay both the employee and employer portions […]
Congress Approves 1099 Repeal Bill But at a Cost to Some Taxpayers
On April 5, 2011, the Senate approved a bill to repeal controversial expanded information reporting on Form 1099 for certain businesses and rental property expense payments. To offset the cost of lost revenues from the repeal, the bill also increases the recapture amount of health care credit overpayments. President Obama is expected to sign the […]