December 31, 2016

Use the following financial checklist if you find yourself considering divorce. This list is not all-inclusive and is no substitute for the professional assistance of your accountant and attorney.

When contemplating divorce

  • If you don't already have a credit card in your own name, apply for one.

  • Consider establishing a credit history in your own name by taking a small bank loan. If necessary, have a frie...

December 28, 2016

Charitable Giving - Vehicles

If you donate a used vehicle to charity, you are allowed to take a tax deduction for your generosity, but only if you itemize deductions on your tax return. Here's the current rule governing donated vehicles.

Tax law: The charity must inform the taxpayer of the price the donated vehicle sold for at auction. This is the amount the taxpayer can claim as a tax deduction. If the charity k...

December 24, 2016

Moving is expensive, but if you maintain good records, you may be able to recover some of those costs through tax benefits.

Some of your moving expenses are deductible if your move is work-related. To be deductible, the distance from your old residence to your new workplace must be at least 50 miles more than to your old place of work. If you are starting work for the first time or after a long period of unemplo...

December 21, 2016

As the end of the year approaches, it’s a good time to think of planning strategies that will help lower your taxes for 2016. My goal is for you to leverage your tax deductions and credits to the fullest extent.

I want to briefly discuss five different strategies that can be powerful tools in lowering your tax bill. And the really great part is that each of these strategies is easy to understand and implement.

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