Individual Tax Articles
Income Tax Consequences of Employer Provided Life-Insurance
Posted by Kelsey Weigel on August 22, 2023
Up to $50,000 of life insurance provided by your employer is excluded from taxable income, any additional coverage is taxable.
Tax Advantaged ABLE accounts for Family Members with Disabilities
Posted by Isabella Newman on August 15, 2023
An ABLE account offers tax savings while making sure that family members with disabilities are still able to receive government supported services.
Limits on Deducting Student Loan Interest After COVID Pause
Posted by Isabella Newman on August 08, 2023
The relief as a result of the COVID-19 pandemic related to student loan debt will end on August 31, 2023; learn what happens next.
Tax Implications of Nursing and Long-Term Care
Posted by Robert Ingrasci on July 26, 2023
When caring for elderly parents decisions need to be about nursing and long-term care and they have tax implications.
Estate Planning Self Care: Make Health Care Decisions When Healthy
Posted by Robert Ingrasci on July 24, 2023
As part of your Estate Plan, the most informed decision you can make for yourself and family is to make health related decisions while you are still healthy.
Understand the Fair Market Value Basis Rules for Inherited Property
Posted by Michē Needham on July 11, 2023
The rules that apply to inherited property known as Fair Market Value of Step-up Basis impact heirs and their taxable income.
Eligible Medicare Premium Tax Breaks
Posted by D’Marie Murray on June 21, 2023
Seniors who have Medicare insurance (including supplemental) know that it can be costly to get the desired coverage. If this is your situation, you may be able to deduct the cost of premiums, along with other medical expenses, on your tax return.
The Advantages of a Spousal IRA
Posted by Amanda Wojtkowski on June 20, 2023
For a couple who file a joint tax return with one spouse not working, there is an option for the nonworking spouse to make an IRA contribution.
Q3 Tax Deadlines for Individuals and Businesses
Posted by Kristin Re’ on June 19, 2023
Stay up to date with tax related deadlines for the third quarter of 2023.
Classification of a Vacation Home in your Estate Plan
Posted by Amanda Wojtkowski on June 12, 2023
Including residential property including a vacation home is important when including it in your estate plan; another option is to gift prior to death.