While reviewing The Wall Street Journal’s Personal Finance Site, I came across a great article written by Tom Herman titled, “Early Filers Piles on Errors.” Mr. Herman highlights Most people who got a payment last year won’t qualify for an additional credit on their 2008 return. But millions of people who didn’t get anything, or… Continue Reading
Category Archives: Taxes
Increase Federal Taxation on Gas? What the Hell!
This is not so much a personal finance post but rather a rant about those ridiculous people in Washington which will eventually affect every reader’s wallet. I am not sure where I heard it first but it seems that some smart people in Washington think nowis the time to increase the federally imposed tax on each gallon… Continue Reading
Long Term Care Insurance may be State Income Tax Deductibility
I learned something yesterday that I figured I would share with my readers. Not sure how many of readers actually own Long Term Care Insurance but I learned something about yet another positive about it. Before getting into what I learned and want to share, a quick definition of long term care insurance. Rather than… Continue Reading
Nursing Home Expenses May Be Deductible
I know we are far from the cultural event known as “tax season” but today, I came across a great tax deduction I had no idea about. A Planner came to me today and asked, quite succinctly, Are Nursing Home Expenses Tax Deductible? I started with my normal logical reasoning, they are medical expenses but… Continue Reading
Series EE Bonds, Income Tax Planning and Estate Planning
I have always prided myself in my research abilities, whether it be during my undergraduate years, post-graduate education, or during my working career. In fact I would have to say at least I spend at least 5 to 10 hours a week researching random questions for planners at my firm. While clerking (basically working for… Continue Reading
Capital Gains Exclusion for Sale of Primary Residence
I think everyone is somewhat familiar with the idea that when they sell their primary residence (stock in a co-operative housing corporation (co-op) can also receive an exclusion if you meet the tests) they do not have to pay all the capital gains, so like my other posts, I wanted to explain (in English) what and… Continue Reading
