The world’s most powerful companies use sophisticated strategies to eliminate taxes. If you are a corporate executive, you might be able to take advantage of variations on these strategies – one of them being life and death.
Many young taxpayers miss out on tax-saving opportunities because they just aren’t aware of them. Here are some tax credits and deductions that you shouldn’t overlook.
Inflation is too low? Don’t expect that to last, in light of gun-shy Federal Reserve policy and accelerating economic activity.
Millennials who don’t need much health care often choose cheaper insurance with a high deductible. If you’re in that age group, a great complement to your plan is a health savings account (HSA), which helps you fund your health care costs until you meet the deductible.
We often read reports from the Social Security Administration’s reviews of the status of its trust fund and predictions that in 20 years funding will exist to pay 77 cents on the dollar of promised benefits. So far this revelation produces from policymakers no actual steps to fix the system. What can we do to fix Social Security?
Our first article looked at several new aspects of tax planning for large estates, including recent rules changes, portability and trusts, among other tools. Here are additional strategies that allow big estates to reduce taxes while gifting to heirs and charity.
Now as in most holiday seasons, you probably think about giving to charity. Before writing a check, consider the tax advantages of gifting such appreciated assets as stock instead. This move can make your heart feel good now and your wallet feel good next tax day.
Know who never seems to take a holiday? Scammers pretending to be the Internal Revenue Service. Don’t become the next victim; here’s what to know to protect yourself.
Practically no one looks forward to a tax deadline, but Democrats may have special reason to worry about the one they face next year. That’s when an Obamacare design problem slaps its participants with a financial penalty for failing to forecast their incomes correctly.
Talk of overhauling the tax code is stirring in Washington, but the overwhelming complexity of the task makes it difficult to accomplish, at least in the near term. Here’s a good, clean, quick way to tackle part of tax reform – and produce an economic bonanza: abolish the corporate income tax.