Is Your HSA a Retirement Tool? The good, the bad, and the ugly!

Health Savings Accounts can be a source of retirement funds when properly positioned with other retirement fund options, but it’s important to know their advantages and disadvantages. Read more.

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Don’t Pay Tax on a Home Sale in 2017

The law lets you sell your home tax-free if you meet certain requirements. The home must have been owned and used as your principal residence for at least two of the five years prior to the sale. Couples can enjoy up to $500,000 of tax-free profits from a home sale, while singles qualify for up to $250,000 of tax-free gain.

To the extent possible, time home sales to meet the requirements in order to enjoy tax-free profits.

Know the facts about IPOs in 2017

Do you know anybody who has tripled his or her money investing in the initial public offering (IPO) of a hotshot new company? It can happen.

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September 15 Tax Deadlines for Business 2017

September 15 is an important tax filing deadline for partnerships and corporations. It’s the filing deadline for 2016 tax returns for calendar-year S corporations that received an automatic extension of the March 15 filing deadline. It’s also the filing deadline for 2016 partnership tax returns that received an extension of the April 15 filing deadline. If you need assistance, contact our office.

Five financial lessons to teach your children in 2017

“Dad, I need some extra money to go to the movies with my friends.”

If you are a parent, you’ve probably heard countless requests like this. Learn some simple ways you can connect with your kids by teaching them about personal finance.

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Reap the benefits of hiring your child for the summer

Your teenage child is probably eager to make some money this summer. Hiring him or her to work for your company may offer benefits to both of you. Read more.

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Don’t assume it’s correct, just because it’s the IRS

You may receive correspondence from the IRS that contains an error. What should you do?

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What if you have a casualty gain in 2017?

If you were subject to a casualty loss and received a reimbursement from your insurance company, this can result in taxable income. There are specific rules related to casualty gains that can help you determine how this affects your situation. Read more.

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Five home office deduction mistakes

The home office tax deduction is a tricky area of the tax code. Some taxpayers are so wary of the deduction that they simply opt not to take it. If you’re in this group, read the common mistakes and then get help. Don’t miss out on this tax benefit if it applies to you. Read more.

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Cosigning a loan can hurt financially and emotionally

Cosigning a loan for a friend or family member may seem like a good way to help your loved one establish credit or get back on track financially. But be sure to use your head as well as your heart to make the decision. Why? When you agree to cosign a loan, you become equally responsible for the debt. That means you will have to make payments and satisfy the loan if your friend or family member doesn’t or can’t. A recent survey by an online credit card marketplace shows that 38 percent of cosigners had to repay some or all of a cosigned loan. Another financial impact: cosigning the loan negatively affected the credit score of 28 percent of cosigners because the other person didn’t make payments or made them late. Cosigning has an emotional side, too. According to the survey, 26 percent of cosigners said the experience damaged the relationship with the person they were trying to help.