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Donate Stock to Lower Your Tax Burden

With U.S. equity valuations near historically high levels, now may be an opportune time to take advantage of the tax benefits of donating long-term appreciated stock to a qualified charity. Directly donating a winning stock you’ve held for at least one year provides greater tax benefits than writing a check… Read More

Social Security Announces New Online Security

In 2012 my Social Security was launched to allow online access to your Social Security account. To date, over 30 million Americans have created an account. Effective June 10 there will be a second way to authenticate your identity and gain access to your online information using your e-mail account…. Read More

Do-It-Yourself Identity Theft Protection

Identity theft is a growing problem in the United States, and dozens of companies offering various forms of identity theft protection have sprung up to combat it. Unfortunately, these services often do little to actually protect people’s identities, according to a study released by the U.S. Government Accountability Office (GAO)…. Read More

Six Tips for Working Beyond Retirement Age

Two-thirds of the Baby Boomer generation are now working or plan to work beyond age 65, according to a recent Transamerica Institute study. Some report they need to work because their savings declined during the financial crisis, while others say they choose to work because of the greater sense of… Read More

Business or Hobby?

When you incorrectly claim your favorite hobby as a small business, it’s like waving a red flag that says “Audit Me!” to the IRS. However, there are tax benefits if you can correctly categorize your activity as a small business. Why does hobby versus business activity matter? Chiefly, you’re allowed… Read More

Marriage Tax Tips

If you recently got married, plan to get married, or know someone taking the matrimonial plunge, here are some important tax tips every new bride and groom should know. Notify Social Security. Notify the Social Security Administration (SSA) of any name changes by filling out Form SS-5. The IRS matches… Read More

Nonprofit Annual Filing Due

Annual reporting is required for all organizations that wish to keep their nonprofit status intact. The due date for this filing is May 15, 2017 for calendar-year organizations. Here’s how you can help ensure your favorite charities stay compliant. Check online. The IRS has a master list of charitable organizations… Read More

Three Popular Tax Breaks are Gone

As you make plans for the 2017 tax year, take note that three popular tax breaks expired last year and won’t be available unless Congress acts to extend them. 1.  Tuition and fees deduction. You used to be able to deduct as much as $4,000 in college tuition and fees… Read More

Spring into Household Budgeting

Spring is in the air! As you’re wrapping up your tax filing for 2016, now is a natural time to either create a new budget or refresh your existing budget. Here’s how: Organize your data. Gather all your bank, credit card and income statements for the last several months to… Read More

2017 Tax Quiz

Before the creation of the income tax, how did the U.S. government generate revenue to pay its expenses? Before the creation of the income tax, how did the U.S. government generate revenue to pay its expenses? A. Taxes – on business income B. Tariffs – on foreign imports C. Plunder… Read More