With the annual federal gift tax exclusion, you can transfer substantial amounts free of gift taxes to your children and others. Here are the basic rules.
Getting a divorce? There are tax issues you need to understand
Getting a divorce can be a painful process. You don’t want to make it worse by making decisions that will cost you more in taxes. Here are four issues to consider if you’re in the process of getting a divorce.
Taking distributions from your traditional IRA
Prudently planning how to take money out of your traditional IRA can mean more money for you and your heirs. Here are three areas to understand in order to maximize your retirement savings.
The “kiddie tax” hurts families more than ever
If your child or grandchild has unearned income from dividends, interest and capital gains, beware of the “kiddie tax.” Your family may be hit even harder by the tax under current law.
Volunteering for charity: Do you get a tax break?
Do you spend time volunteering for charity? While you can’t deduct the value of your time, you may be able to deduct some of the out-of-pocket costs. Here are the rules.