Is It Time for a Payroll Tax Checkup?
Was your 2018 federal tax refund less than normal, or—worse yet—did you owe tax despite usually getting a refund? We explain why it might be time for a payroll tax checkup.
Earn Tax-Free Income from Working Abroad
U.S. citizens and resident aliens are taxed on their worldwide income, whether they live inside or outside of the U.S. However, qualifying U.S. citizens and resident aliens who live and work abroad may be able to exclude from their income all or part of their foreign salary or wages, or amounts received as compensation for…
Six Experts from Henssler Financial Named to Atlanta’s Five Star Wealth Manager List
Honored for their outstanding service, five financial professionals from Henssler Financial were named to the 2018 Five Star Wealth Manager list for Atlanta by Five Star Professional. The list of winners published in the October 2019 issue of Atlanta Magazine.
Medicare Open Enrollment Begins October 15
The annual Medicare Open Enrollment Period is a good time to review your current Medicare plan. What worked for you last year may not work for you this year.
Get Those Kids a Job, and Take Advantage of Tax Breaks
Children who are dependents of their parents are subject to what is commonly referred to as the kiddie tax. This generally applies to children under the age of 19 and full-time students over the age of 18 and under the age of 24. The kiddie tax originated many years ago to close a tax loophole…
How can I protect my identity and my money?
Large-scale data breaches seem to be in the news frequently. Breaches have become more common—a byproduct of living in an increasingly digital world. During the first six months of 2019, the Identity Theft Resource Center (ITRC), a nonprofit organization whose mission includes broadening public awareness of data breaches and identity theft, had already tracked 713…
Tax Ramifications of Disposing of a Vehicle
If you are buying a new car, are you wondering what to do with the old one? You have several options, some of which have tax implications and some of which don’t. These options include trading the car in with the dealer, selling it to a third party, donating it to a charity, gifting it…
Balancing 401(k) and HSA Contributions
If you can contribute to both a 401(k) and HSA, determining how much to contribute to each type of plan will require some careful thought and strategic planning.
What Life Events Trigger the Need for Financial Advice?
As you move through different stages of life, you will face new and unique financial situations. Did you just get engaged? Perhaps you are wondering how you and your partner are going to manage your money together. Do you have children? Maybe you are looking for ways to pay for their college education. When you…
Facing a Huge Gain from a Realty Sale?
When you sell property you will have a gain or a loss based on your basis. Failure to document may cost you. Read all about it in this week’s Tax Tip.