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Tax Planning
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Untangling Your Finances When You Divorce: Don’t Forget These Important Details | Part Three | Taxes & Financial Planning
Filing Taxes as Single Can Take a Toll Your tax-filing status will be your status as of the end of the year. This may cause your taxes to increase or lead to additional liability. If you are a W2 employee and have been withholding for most of the year based on being married, you may…
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Five HSA Benefits
Health Savings Accounts (HSAs) are the Cerberus of accounts. That is because they offer a trifecta of tax benefits. Contributions can be deducted. Earnings are tax-deferred while in the account and, if HSA funds are used for qualified medical expenses, both contributions and earnings are tax-free when distributed. While you may know the basics,…
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US House of Representatives Releases Tax Proposals
Ever since President Biden released his spending and tax proposals in April of this year, taxpayers have been waiting for Congress to act by beginning to propose legislation. On Monday, September 13, the Ways and Means Committee of the House of Representatives released its plan to pay for a $3.5 trillion spending package designed to…
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Untangling Your Finances When You Divorce: Don’t Forget These Important Details
Whose name is on the title to the house? Is the person paying child support covered by a life insurance policy? Have you changed your tax withholding now that you won’t be filing as married? These are all important but often forgotten details. Divorce is an emotional time for everyone involved, but neglecting diligent follow-up…
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Is Your Child Heading Off to College? Avoid these 529 Plan Distribution Mistakes
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Evensky & Katz / Foldes
Your kid(s) is(are) headed off to college – congrats Mom and Dad! Before they even meet their professors, you will receive the first of many tuition bills from the university. Thankfully, you’ve been a responsible adult and have accumulated ample savings for this exact expense in a 529 plan. But now, you’re done accumulating and…
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