More tax benefits for higher education

By |2019-11-24T14:25:44+00:00November 16th, 2019|College, Personal Finance, Taxes|

One way the government encourages behavior that it sees as beneficial is by offering tax breaks. They offer a mortgage interest deduction to encourage homeownership.  They offer deductions to encourage charitable giving. And, they offer tax credits for some college expenses. We wrote about the American Opportunity Tax Credit (AOTC) in an earlier post.  Here [...]

Didn’t qualify for federal aid…? Consider this!

By |2019-11-24T00:47:26+00:00November 9th, 2019|College, Personal Finance, Taxes|

Most people know that they should complete the Free Application for Federal Student Aid (FAFSA) each year that their student is in college (see this post for more info).  The FAFSA will be used as the application for federal student loans and to determine your Expected Family Contribution (EFC) – or whether your family will [...]

How to overcome the fear of tax season

By |2019-02-19T12:58:50+00:00February 19th, 2019|Finance, Personal Finance, Taxes|

There’s no two ways about it.  The U.S. tax code is complex.  Even if you have an understanding of how the tax system works, there are seemingly endless specific provisions that affect some situations but not others.  You may get a good idea of how the tax provisions will affect you this year, but due [...]

When you should consider taking capital gains this year

By |2018-12-01T14:34:20+00:00November 26th, 2018|Investing, Personal Finance, Taxes|

One of those financial rules of thumb that can hurt you - It's always better to pay later rather than paying now. The question isn’t just whether you should pay now or pay later.  The question is also whether you should pay more or pay less.  Depending on your circumstances, you could pay less in [...]

I already have an accountant. How can a financial planner help me?

By |2018-09-07T14:30:39+00:00September 7th, 2018|Investing, Personal Finance, Taxes|

You have an accountant who prepares your tax returns.  You have someone who manages your investments.  So how could a financial planner help you?   Your accountant is looking backwards. When your accountant prepares your tax returns, he or she is looking backward.  The purpose of your tax return is to report to the government [...]

Tax Planning and 8 ways it can benefit you

By |2018-07-13T01:49:59+00:00April 4th, 2018|Personal Finance, Taxes|

Tax planning is the process of devising and implementing strategies to reduce your liability. Could you benefit from tax planning?  Do any of these apply to you? You dread tax season because the number is a surprise. Could be a good surprise or a bad surprise but it’s a surprise. It’s a huge hassle to [...]