Estate Planning Tip: Creditor Protection for IRAs & Beneficiaries

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Individual Retirement Accounts (IRAs) have the potential benefit of creditor protection in the event of bankruptcy. If you are going through a bankruptcy proceeding then your IRAs will be protected against most creditors; in other words your IRA assets will be safe and no one will be able to seize them. It […]

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Charitable Donations: A Tax Deduction Primer

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Charitable donations are admirable gifts, and ones that can be made in the forms of cash, check, credit card or payroll deduction. When it comes to the Internal Revenue Service (IRS) they require proof that you made donations, and the responsibility of receiving and documenting that proof falls onto you – the […]

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Chartiable Donations – Admirable Gifts

Charitable donations are admirable gifts, and ones that can be made in the forms of cash, check, credit card or payroll deduction. When it comes to the Internal Revenue Service (IRS) they require proof that you made donations, and the responsibility of receiving and documenting that proof falls onto you – the taxpayer an donor. When making charitable donations it is important to keep the following things in mind:

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One Way Some Wealthy Investors Can Avoid Big Capital Gains Taxes

If you are a considerably successful business owner, corporate executive, or another type of wealthy individual then you might find yourself in a dilemma when it comes to your stocks. A large part of your wealth may be tied to a particular stock and although you may want to sell/reduce your holdings, the thought of large capital gains taxes convinces you not to do so.

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How Many Taxpayers Fall Into Each Income Tax Bracket?

Every new year as Spring approaches, everyone has one thing on their mind – taxes. As the new year begins tax season approaches and all those who file attempt to estimate what they will make back. However, for the 2016 the tax brackets have been adjusted for inflation. Here is a breakdown of where people fall within the brackets and what it means.

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The Benefits of Gift Annuities

The most expensive colleges are now over $65,000 per year. At the same time, student loan debt is over $1 trillion and escalating right along with the cost of college. Student loans, however, are not the only way families can borrow to help pay for college. The following is an overview of the 8 common types of loans used in education funding, followed by a bit of guidance to help you understand which loan(s) might be best for you and your child. 2015 Guide To FAFSA, CSS Profile, College Financial Aid And Expected Family Contribution (EFC)

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The Do’s And Don’ts Of Charitable Pledge Donations

The most expensive colleges are now over $65,000 per year. At the same time, student loan debt is over $1 trillion and escalating right along with the cost of college. Student loans, however, are not the only way families can borrow to help pay for college. The following is an overview of the 8 common types of loans used in education funding, followed by a bit of guidance to help you understand which loan(s) might be best for you and your child. 2015 Guide To FAFSA, CSS Profile, College Financial Aid And Expected Family Contribution (EFC)

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A CPA Answers: ‘How Should Someone Estimate Taxes When Filing For An Extension?’

Why So Many People Ask This Question I think the biggest confusion about estimating taxes when filing for an extension comes from the fact that you can extend the reporting timeline but not the payment due date—which is why so many people ask this question.

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How I Was Stung By A Tax Scam And How You Can Avoid One

When I was stung by a tax scam last year, someone stole my or my wife’s Social Security number and filed a false return

But the thief wasn’t too smart and a huge refund check came my way, which I returned to the IRS.

Yeah, I sent a generous government rebate right back to the Treasury. It wasn’t a legal refund, so I let the IRS know immediately that I was the victim of fraud.

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5 Tips to Lower Your Tax for 2015

With 2014 over and 2015 well on its way you may be finding yourself gathering all of your 2014 tax information and getting ready to file your income taxes. Some folks will be expecting refunds while others will woefully dread writing out a check to the IRS.

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