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Personal Tax & Financial Planning Articles

Personal Tax & Financial Planning Articles

Are you a member of the Sandwich Generation?

If you’re currently taking care of your children and your elderly parents, count yourself among those of the Sandwich Generation. Although it may be personally gratifying to be able to help your parents, it can be a financial burden. How can you best handle the...

Will Congress revive expired tax breaks?

Most of the talk about possible tax legislation this year has focused on either wide-sweeping tax reform or taxes that are part of the Affordable Care Act. But there are a few other potential tax developments for individuals to keep an eye on. Back in December of...

3 midyear tax planning strategies for individuals

In the quest to reduce your tax bill, year end planning can only go so far. Tax-saving strategies take time to implement, so review your options now. Here are three strategies that can be more effective if you begin executing them midyear: 1. Consider your bracket The...

Could the NIIT apply to the sale of your home?

The 3.8% net investment income tax (NIIT), which went into effect in 2013 under the Affordable Care Act, continues to create confusion. One aspect of the NIIT (also known as the Medicare contribution tax) that’s widely misunderstood is its impact on the sale of a...

Why a private annuity is a powerful estate planning tool

Affluent families looking for ways to reduce their gift and estate tax exposure should consider private annuities. Under the right circumstances, a private annuity can generate significant tax savings. A 2013 U.S. Tax Court decision that approved the use of a deferred...

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