Tax and Legal Educational Articles
Don’t get me wrong, the Mega Roth is amazing, but I would suggest you don’t even think about it unless you’ve seriously considered the other strategies above AND have an extra 50k+ to set aside for savings without the need for a current tax deduction.
The CRT is a very powerful estate planning tool that may enable you to reduce your liability for income and estate taxes, protect your assets AND diversify your assets in a tax-advantaged manner.
Small-business owners have more options to save on healthcare and insurance costs than any other group of Americans! It simply takes a little bit of research and consulting with professionals to create the perfect plan for you.
Health insurance is expensive, and making sure it's a write-off in your business is a big deal. Regrettably, it's not as easy as just putting it on your P&L and treating it like office supplies. In order for health insurance premiums to be deductible, they must be...
Procrastination is easy – especially when it comes to something where the benefits won’t be apparent until you are either incapacitated or have passed away. However, if you care about saving your loved ones thousands in legal fees, months of time, and a mountain of headaches and worries, then completing your estate plan is truly a caring act of charitable service that you should consider completing before it becomes everlastingly too late.
But what if you STILL owe taxes for whatever reason and the May 17th deadline is really concerning you? Here’s what you need to do in order to minimize any penalties and interest.
The HSA could be one of the biggest tax-saving strategies AND health care-saving strategies of your life. It includes a tax deduction upfront, tax-free growth, and tax-free withdrawals at any age.
The little-known fact that can transform your Coverdell ESA into a powerhouse for college savings is the fact you can self-direct the investments.
The special extension to May 17th ALSO applies to Traditional IRAs and Roth IRAs. Taxpayers now have until May 17th to contribute these special retirement accounts and still have them apply to 2020.