Maximizing Deductions for Start-Up Costs
Starting a business? Know what qualifies as a capital expenditure and a start-up cost, and which ones can be deducted.
Who Claims the Children: You or Your Ex-Spouse?
A commonly encountered but often misunderstood issue is who claims the child or children for tax purposes. Read this before you make a serious mistake.
Disaster-Related Tax Losses May Be Less Than Expected
The late-2017 tax-reform package changed the rules for personal casualty losses, which now are only deductible if they occur in a federally declared disaster area. As a result, if a home is destroyed in a forest fire or other disaster within a declared disaster zone, the homeowner can claim a casualty loss on that year’s…
Passthroughs Can Benefit from Georgia HEART Program
Since 2017, the Georgia HEART Program allowed taxpayers to make a donation to a qualified rural hospital organization (RHO) in Georgia and receive a tax credit on their Georgia income tax liability.
Are You Subject to Self-Employment Tax?
All self-employed taxpayers who have more than $400 in net profit from their self-employment must pay self-employment tax.
Ten Year-End Tax Tips for 2019
2020 will be here before you know it. Make sure you make time to assess your tax situation. We list 10 tax moves to consider between now and the end of the year.
Could a Health Savings Account Help Strengthen Your Retirement Plan?
In a 2019 Gallup poll, 25% of Americans age 50 to 64, and 23% of those age 65 and older, said health care costs were their top financial concern. Should you consider an HSA?
In the News: Holding periods for capital assets
In today’s Marietta Daily Journal, Bil Lako, CFP® explains why how long you hold an asset affects how much tax you’ll owe on the gain when you sell it.
Life Changing Events Can Impact Your Taxes
Throughout your life there will be certain significant occasions that will impact not only your day-to-day living but also your taxes.
Holding Periods for Capital Assets
The “Money Talks” Experts discuss a situation for a couple of investors who have bought and sold several different types of assets throughout the year. They talk about the holding periods and how they affect the capital gains treatment.