Category Archives: Taxes

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 butContinue 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 forContinue 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 andContinue Reading

Education Loan Interest is Not Always Tax Deductible

It seems to be a common statement among parents, planners, financial aid people, some bloggers, etc. that Don’t worry about education loans, they are tax deductible… Like most tax advice given…it is a half truth. Student Loans Are not Always Tax Deductible Yes, your interest is tax deductible if you don’t pass certain threshold incomeContinue Reading