General Business, Management & HR Issues
When are Americans happiest – and most stressed?
Some days of the year are happier than others ... and some bring Americans stress. Gallup does a daily poll of thousands of American adults to find out just what days bring us joy and which bring us stress. Some you would expect. Others not so much. The famous research group also offers some tips for reducing stress at work.
How much planning does your estate need?
Nobody likes to talk about their own mortality. But the unfortunate truth is, not having a well-crafted estate plan could cost your loved ones up to 40 percent of your wealth in federal estate taxes upon your death. What is the status of your estate plan? Here's a checklist.
How to maximize your Social Security income
Social Security benefits can provide a significant amount of income that should not be dismissed or ignored in retirement planning. With the right information and timing, everyone should be able to maximize this important source of retirement income.
Wealth Advice, Retirement & Estate Planning
MyRA: How the new IRA works
If you listened to the State of the Union address last month, you heard President Obama unveil a new type of retirement savings plan called "myRA." MyRA is a savings vehicle designed to serve people whose employers do not provide access to a retirement plan. How exactly does it work?
Ten tax tips when selling your home
With the housing market beginning to show signs of life, you may begin to think about moving. The good news is that, even if you make a profit from the sale of your home, you may not have to report it as income. Here are 10 tax tips to consider when planning a sale of your principal residence.
Gold: The pros & cons of investing
Investors give different reasons for investing in gold. Gold generally doesn’t tend to move along with stocks or the dollar. For this reason, some argue that gold can be a hedge against a poorly performing stock market or a weakening dollar. Here are some pros and cons of adding gold to your portfolio.
Washington Tax Update
With tax filing season in full swing, it's a good time to review whether you're reporting the correct amount of income on your tax return. If you or a family member worked at a job during 2013 where tips were received from customers, those tips need to be reported as income on the recipient's tax return.
The IRS has issued the annual tables providing the depreciation deductions available to owners of passenger automobiles, trucks and vans first placed in service during calendar year 2014.
A medical doctor could not deduct as a business expense a payment he made to a medical facility that had paid his tuition under an agreement he entered into years earlier, the Sixth Circuit Court of Appeals held recently, affirming a federal district court's decision. The doctor was obligated to make the payment after he failed to work in a specified community for the full period set forth in the agreement.
One seemingly simple question that often elicits a complex answer from tax advisers is, "Are my Social Security benefits taxable?" The answer is, "Maybe."
While you were watching Cate Blanchett, Jared Leto, Matthew McConaughey and Lupita Nyong'o winning their acting Oscars at last week's Academy Awards, perhaps you were feeling a little sorry for the losers. Not to worry. According to Forbes, all of the nominees received a gift bag stuffed with more than $80,000 worth of prizes.
The technical information here is necessarily brief. No final conclusion on these topics should be drawn without further review and consultation. Please be advised that, based on current IRS rules and standards, the information contained herein is not intended to be used, nor can it be used, for the avoidance of any tax penalty assessed by the IRS.
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