Tax Free Sale of Property
Howard and Lynn were age 55 when they purchased some land outside of town. They thought it would be a good investment that they could later sell for a higher price. Over the years, development from town has moved toward the property and their land is now next to a...Fixed Income and Tax Savings for Retirement
Fixed Income for Retirement After working for decades as a pediatrician in a small rural town, Patricia was ready to retire. Patricia: I bought some stock a number of years ago and overall this was a good investment for me. However, I was uncertain about leaving my...“Fall” into Tax Savings for next year!
With fall in the air, it’s time to start thinking about things that need to be done to prepare for winter. The garden harvests are rolling in, fresh vegetables are everywhere and it’s really, really great. Time to fill up your oil tanks before the price change, and...
Tax Doctor
- What Is Tax Planning?We use the term “Tax Planning” often, but we are aware that many people are not sure what it really is. Some people think “That means off shore accounts and citizenship shell games ending with jail time. No thank you!”. That is not tax planning, that’s tax evasion, and it’s not at all what we […]
- People Complain About Taxes, but Most Avoid Planning Better Outcomes!It’s human nature, of course. We complain about our weight in the line at the ice-cream stand. We complain about being tired, then stay up late playing the latest game on our smart devices. Humans are funny and contradictory animals. Have you ever noticed that when you’re in a conversation, people are quick to complain […]
- Moving to A New Home Is Done Better By Most Than Changing Accountants. Here’s Why!Summer is a popular time for people planning a move to put their home on the market. It happens all year long of course, but the “hot season” is May-September. There are many reasons. School is out and if you have kids of that age it’s easier to change schools between grades. Often, it’s when […]
- Tax Deductions for Working from Home Might Not Work the Way You Would Expect!For the self-employed, home office deductions can be connected to the Schedule C that they include on their 1040, which reports income and expenses for the business. The home office deduction can be taken with two different calculation options. One is more complex to calculate and one simplified option is based only on the square […]
- 2020 Changes You Needed to Make Anyway!It’s July but the big fireworks are a victim of COVID-19. Although true, small local and personal fireworks will likely be everywhere as people adapt. That fireworks habit is ingrained in us so the fun will find a way. Another behavior or habit that’s ingrained into people is spending more time on “staycation” vacation plans than […]
