One of the frustrating complexities on a personal tax return is making interest expense deductible. The current law comes from the revision to the Internal Revenue Code in 1986. Essentially, you should manage four categories of interest to ensure you’re maximizing your qualifying deductions: Home mortgage interest This interest is incurred on the primary residence, [...]
In our series of recent blogs we mentioned that prudent taxpayers should prepare themselves for laws that may make it into next year: the one pending for 2013 and the one which may survive the current partisan Congress this year. Use these ideas to plan your strategy: Consider accelerating capital gains and dividend income into [...]
In this segment of our “Multiyear Tax Planning” series we’ll start preparing you for the “medicine” you’ll be required to take as the tax increases passed with the new health care law become effective. In 2013 expect an extra 0.9% levy on wages for couples with “adjusted gross incomes” [AGI] above $250,000 ($200,000 for singles) [...]
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