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
- Time to Give, but Also Receive (from Uncle Sam)!At the end of the year the Salvation Army red kettles come out, the bells ring and the charitable organizations turn up their activities for fundraising, hoping to appeal to the holiday spirits of people, and in some cases the tax planning needs of businesses and corporations as well! Speaking of charitable giving and tax […]
- Happy Thanksgiving!From our family to yours, have a safe and happy holiday weekend!
- It’s Stock Loss Harvesting TimeMany investors have had success this year, which might mean that capital gains tax reporting is on it’s way to their 2021 tax returns. If you own stocks you love and you didn’t sell this year, then you have no tax issues, so no problem for the direct buy and hold group. However, many people […]
- The 2022 Tax Code Adjustments Are Out…But Are They Reliable?The Journal of Accountancy has released these 2022 tax rates from the IRS: The 2022 standard deduction will be $12,950 for single taxpayers (and married individuals filing separate returns), $25,900 for married taxpayers filing jointly, and $19,400 for heads of household, which for 2021 are $12,550, $25,100, and $18,800, respectively. Other changed amounts for 2022 […]
- “Don’t Let the Tax Tail Wag the Dog!” Can Be Bad AdviceIn the “old days”, you went to the general store for your dry goods, the blacksmith for your horseshoes or tool repair and likely had your own cow and chickens for milk and eggs. Fast forward, you went to a lawyer to get a will, an insurance rep to get a policy and an accountant […]