As we all know, it’s important to get the details right when you are filing taxes. When it comes to charitable contributions, it’s even more important. The Tax Code doesn’t just require the paperwork to show the amount donated, it requires you to get the receipts on time—and those receipts must clearly specify that you [...]
The other day, someone asked me about prepaying next year’s rent on his business. That sounded like a pretty good idea to him because he said he could really use the tax deduction this year. Wouldn’t it be terrific if this concept could really work? Basically, cash-basis taxpayers do get to deduct their payments in [...]
As the holiday season gets underway, one of the hardest things to do is figure out how to teach your child the value of giving. For many children, this time of year is all about what they are getting. But by placing more of a focus on giving this holiday season, you’ll be helping your [...]
‘Tis the season for giving, and many charities will be receiving lots of support and donations from people who are feeling generous during the holidays. However, the number of charities out there can lead to information overload for many consumers. As much as we’d like to, it’s impossible for us to donate to everyone who [...]
Thoughts of gift-giving often run to gadgets, homemade items, food, books, and gift cards. While these ideas are great and can be thoughtful and unique, they are consumable to some degree. Another option is to give something that has the potential to really keep giving: investments. When you prepare to give investments as gifts, here [...]
If you’re like most of us, when you’re planning your holiday budget, you spend a lot of your time thinking about ways to save money on gifts. But if you’re not careful, holiday decorating can also end up costing you a pretty penny. Here are some smart ways to make your house look festive without [...]
If you are switching to a new job, you will need to decide what to do with the funds that are in your retirement accounts at your old job. Taking the time to carefully weigh your options in order to make the best financial decision can be critical to your retirement planning. You generally will [...]
Disclaimer: This blog post was written before the election and is meant to summarize the possible effects of the end of the Bush-era tax cuts. I hope you enjoyed all the presidential debates last month—and I also hope that you are are happy with the election results. Perhaps now our elected officials can get back [...]
