Category Archives: Taxes

Nursing Home Expenses May Be Deductible

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

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

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

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