Life Insurance as The Ultimate Hedge
Many people think of life insurance as a product for family protection. The life of one or two breadwinners is insured; in case of an untimely death, the insurance payout
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A Grain of SALT in New IRS Notice
Taxpayers who itemize deductions on Schedule A of their tax return have been able to deduct outlays for state and local income tax as well as property tax with no
How the New Tax Law Affects 529 Plans
For many years, 529 college savings plans have offered a tax-favored way to save for higher education. These plans, officially qualified tuition programs, are named for the Internal Revenue code
Now the G.I. Bill is Forever
When you think of the G.I. Bill, you probably recall reading about a program designed to help military veterans receive college educations after they left the armed forces following World
Education as a Small-Business Fringe Benefit
The Tax Cuts and Jobs Act of 2017 dramatically reduced taxpayers’ ability to itemize deductions. Among the tax deduction opportunities that have vanished, from 2018–2025, are miscellaneous itemized deductions that
Do Not Neglect Estate Planning
As the federal estate exemption now exceeds $11 million per person, few individuals or married couples will ever owe this tax. Nevertheless, there is more to successful wealth transfer than
More Give in the Gift Tax
The Tax Cuts and Jobs Act of 2017 increased the federal estate tax exemption to $11.18 million for 2018. That is per person, so the combined exemption for a married
Buck Market Volatility with A Retirement Bucket Plan
We have seen an increase in market volatility in early 2018. A steep pullback in stocks could be good news for working people who are building retirement funds, but those
IRS Okays Home Equity Deductions
The Tax Cuts and Jobs Act of 2017 has affected the tax deduction for interest paid on home equity debt as of 2018. Under prior law, you could deduct interest
No Tax Deductions for Business Entertaining
The good news is that the Tax Cuts and Jobs Act (TCJA) of 2017 lowered corporate tax rates from a graduated schedule that reached 35% to a 21% flat rate.