Why You Should Love Your Stinkers

Why You Should Love Your Stinkers We have had quite a few emails and calls about the 9 Ways to Reduce Your Taxes attachment in the November newsletter. Most of the questions were about the “wash sale” rule typically used in selling stocks so let’s spend some more time...

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How to Title Property Correctly

Married Couples and Property Mary was a surviving spouse. She and her first spouse, Ryan owned a lovely home and placed it into joint tenancy with right of survivorship. After Ryan passed away, Mary met Logan and they were married. Because she had the house in joint...

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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...

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  • Tax Planning in Down Markets
    Well, investors aren’t going to have a very good weekend.  Many are losing net worth, and fear of the real economic effects of a major national or international event, such as the looming possibility of a coronavirus pandemic, is not a topic that anyone likes to deal with.  We have seen these kinds of events […]
  • Tax Code Changes for the 70 Plus Crowd!
    A lot of things have changed in the last two years when it comes to tax rules.  Every year, the IRS tweaks things a little.  Since Trump has been in office, there have been some substantial changes to things that people have been use to for many years.  Old habits die hard, so some of […]
  • The First Major Deadline of the Tax Season is Looming!
    Many people think of the IRS filing deadline as April 15th.  Simple right?  In fact, there are deadlines all year long, something different every month.  IRS Publication 509 has the outlines, if you want a quick search to look something up.  If you are in certain industries, you likely know you have different deadlines; like […]
  • The Light Bulb Moment
    Ever had a “light bulb” moment?  I have been driving for many years.  I’ve driven at least a million miles and I own a few cars (I collect certain types), and when driving my spouse’s car or one from the collection that I haven’t driven in a while, inevitably it’s time to gas up.  I […]
  • They Zig, We Zag.
    People who are worried about the 10 year rule, requiring beneficiaries of inherited IRAs to withdraw the entire balance within 10 years, can double that time with a CRT beneficiary in front of inheritors.  What if you really have a big IRA and the 10 year rule just isn’t enough of a stretch to help […]
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