We want to review just a few more tax extenders that Congress approved for the 2014 tax year. The tax season has officially started, so it's important to keep these and the rest of the extenders in mind as you prepare to file your return.State and local tax deduction:...
Month: January 2015
Blink and you’ll miss them: Tax extenders, p. 3
Tax filing season starts on Tuesday, Jan. 20. As you prepare your return, or work with a tax professional to prepare it, don't forget that Congress renewed some important tax deductions and credits before adjourning. We discussed the mortgage debt exception in our...
Blink and you’ll miss them: Tax extenders cont’d
We are circling back to our discussion of the tax extenders law passed by Congress just before the holidays. In our Jan. 5 post, we left off with a promise to talk about how a homeowner can handle an underwater mortgage. As a reminder, a mortgage is underwater when...
Aren’t estimated tax payments supposed to avoid IRS problems?
No one likes to discover they owe taxes after preparing their annual income tax returns. That unexpected obligation may interfere with a person’s monthly budget. Depending on the situation, a taxpayer may even be unable to pay the entire amount.When it comes to...
Blink and you’ll miss them: Congress renews tax extenders
In mid-December, Congress finally acted on tax breaks that had expired at the end of 2013. The bill renewed deductions, credits and exclusions that taxpayers have come to rely on, but it is a good news/bad news law: The tax extenders were renewed for all of 2014 --...
Recent Blog Post
Even a fortune can disappear without sound estate planning
Some figures baffle.Like the speed of light. Like the age and size of the universe. And like estimates pegging the personal fortunes of America's richest families.Consider this imagery relevant to the storied Vanderbilt family for a moment: a pile of money equaling...
Broad, measured thinking out of the box promotes sound estate planning
"You own this." Those words might sound frightening to a would-be California estate planner, but they are actually meant to promote a feeling of empowerment rather than intimidation. It is no secret that legions of...
Remarrying couples unquestionably need to focus on estate planning
Many remarrying California individuals fail to timely consider and update existing estate plans to reflect new realities.Don't be one of them. Many remarrying California individuals fail to timely consider and update existing estate plans to reflect new...
View More Blog Posts