Category: "Financial Planning"

Taxability of Home Sales

July 29th, 2017
While enjoying a round of disc golf this week one of the players was talking about someone who had to live in a house he inherited for three years in order to avoid paying tax on the sale of the house. I may not have all the relevant details but it… more »

Income Averaging and Transitions in Tax Law

March 18th, 2016
Over the years tax law has been quite fluid based on changes and incentives Congress intends to provide to taxpayers in each session. This amoeba-like quality is what makes comparisons between different generations of the tax code difficult. It's more… more »

Common IRA Traps

March 9th, 2016
This tax season has been one for IRA traps. IRAs are great, but meeting the rules can be a challenge. With hefty penalties on large sums, any mistake can be disastrous. Here's a few issues I've encountered this year. Don't Forget to Take RMDs. With most… more »

Trusts: 2014 Observations & Updates

October 16th, 2014
This is a review of Trust news so far for 2014, based on what I've bookmarked or saved during the year. The year has been a somewhat quiet one for trusts. There has been some clarification of NIIT for trusts, material participation, and what it means to be a real estate professional as a trust. One thing that may be a highlight is the clarification of what is included in the 2% miscellaneous deductions, and a mention of required unbundling for that purpose beginning in 2015. Considering those issues, you may want to do some end of year tax planning. more »

There's more to retirement than .. retirement

September 11th, 2014
While maintaining my knowledge of tax laws and various business concepts, I've been dipping into financial planning somewhat consistently. While I've learned a lot about financial planning and its tangential fields of expertise, I've noticed that… more »