Taxes

I recently received a phone call from an individual concerned about his self-directed IRA. Several years ago, he invested his IRA in an LLC that buys and renovates aging mobile home parks.

Over the years Congress has granted tax preferences to many different types of long-term savings accounts. Most of these accounts have two tax benefits. For example, traditional IRAs and 401k plans provide an immediate tax deduction when a contribution is made, plus

The non-partisan Tax Foundation ranks California’s individual state tax environment 49th out of 50. Only New Jersey scores worse. If the pinch of state income tax has you thinking about moving out of state, here are some important things you need to consider.

One of the great challenges in financial planning is figuring out how to transfer wealth from one generation to the next in the most tax efficient manner possible. Tax efficiency, in this context, means moving the most assets while paying the least amount of estate tax. In the past, tax efficient transfers usually entailed complicated trust structures. However, things became much simpler in 2010

When it comes to minimizing taxes, it is good to leave no stone unturned. Here are five questions to ask yourself as we come to the end of 2018. As you think through these, you should consult with your own tax professional or financial advisor to see how they apply to your particular situation.

It’s time for the annual year-end tax scramble—the time when people like you and I try to figure out how to wrangle a few extra bucks out of our anticipated tax bills. After last year’s tax reform, this year’s scramble is probably going to be a little more limited. However, here are a few end-of-year tax saving ideas you should look at.

When congressional leaders first started pushing the 2017 Tax Cuts and Jobs Act, they heralded it as a major step forward in tax simplification. While much about the new tax code is simpler, it still pays to do some careful tax planning. In particular, pay attention to income thresholds and how they will affect your tax rates.