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Taxing Choices: Part 3

Taxing Choices: Part 3

In the aftermath of the Supreme Court’s landmark ruling last June that overturned DOMA (Defense of Marriage Act), gay and lesbian couples who married in states where same-sex marriage is legal can now file either as “married filing jointly” or “married filing separately.” In fact, they have to. And according to couples interviewed in a recent New York Times article, even if it means paying higher taxes, they are thrilled.
Filed in: Other, Tax Planning
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Managing a Windfall

Managing a Windfall

Who doesn’t daydream about inheriting money? If you are a Baby Boomer, chances are you will receive some form of an inheritance. According to some estimates, as much as $11.6 trillion will pass to two-thirds of the 77 million or so Boomers—almost 51 million people—in one of the greatest generational transfers of wealth of all time.
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Taxing Choices – Part Two

Taxing Choices – Part Two

Recently I posted about the quandary that many find themselves in during tax season: should they seek out professional help or go it alone in preparing their federal and state returns? But for those who have decided not to hire a tax pro, but still have lingering doubts about doing their own tax return preparation, there is a third way: using tax preparation software.
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The Factor of 22

The Factor of 22

The subject of funding retirement, while maybe not front and center, has made its way back into the news after President Obama’s announcement of the creation of a new savings plan, myRA, during his State of the Union speech. The new savings program is designed to encourage workers to start saving regardless of whether or not their employers offer either a pension (defined benefits) or a 401(k) plan.
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Taxing Choices – Part One

Taxing Choices – Part One

April 15 is only about a month away. Ready or not, it’s time to start thinking about preparing your tax returns. The question for many is: do you need help or can you do it yourself? By now you should have received all the documents you need to file your federal and state tax returns. You know, those 1099s and W2s you’ve received for wages, freelance fees, dividends and other income.
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