Patient Protection and Affordable Care Act (PPACA)* – sometimes known as Obamacare – will be fully implemented starting January 1st 2014. The act has actually been phasing in gradually since it was passed in 2010, but most major components will be in full effect as of the first of the year. This will be the […]
Tax Strategies
A big part of accumulating wealth is to make sure you don’t give it away needlessly. There are a number of provisions in the tax code to help you grow your wealth and reduce tax payments and penalties. These are not complicated. They are not hard to understand or take advantage of. But they are important.
In this category I’ll explain the most important tactics you can utilize to minimize your tax so you can put as much as possible towards building your own future.
Income Tax Law Changes for 2013
The ink on your 2012 income tax returns is probably barely dry, but it’s already time to start looking ahead to income tax law changes for 2013. You may not have to concern yourself with filing for close to another year, but now is the time to begin setting up for a more comfortable ride […]
How to Find A CPA
Everybody knows how to find a CPA . But very few know how to find a good CPA. And having a good CPA can make all the difference. Over the last 30 years as a financial advisor, I’ve seen the good, bad and (very) ugly when it comes to people who charge you for tax […]
How to Prepare for Income Tax Season
Do you hate feeling rushed? I certainly do. Well… if you procrastinate during income tax season, you’re not only going to have to finish things up at the last minute. You also run the risk of making mistakes. And if that happens you’ll have to deal with stiff tax penalties as well. And if you […]
Will The 2013 Tax Increases Impact You?
Are 2013 tax increases coming your way? Very possibly. And it’s all because of the potential “fiscal cliff” we’re rushing towards. The Obama Administration and Congress are trying hard to keep our economy from falling off this “fiscal cliff”. You probably hope they are successful. That’s because if D.C. doesn’t come up with a budget […]
Use Income Shifting to Lower Your Taxes
If you want to lower your taxes (and who doesn’t?) income shifting is a smart financial tax planning strategy you might consider using. This is an important concept and one which will be increasing valuable to you if tax rates rise in the future. What is income shifting? This is a simple technique that moves […]