Taxes are what you pay to the federal, state and local governments where you live. Different types of taxes include income taxes, capital gains tax, sales tax, estate tax and real estate taxes such as property tax. Learn how to bequest property and do transactions in a way that will help you pay less taxes and follow the law.
Having a Baby? Four Things You Need to Know About Your Taxes
Congratulations – your new baby has finally arrived. With this new addition comes added responsibility that can make it easy to forget about all the important things you need to do. While taxes aren’t the first thing you think about when your new baby arrives, forgetting anything on this list could have you scrambling come [...]
Tips on Making Estimated Tax Payments
The other day, a client called me very proudly. She had made her second quarterly estimated tax payment “right on time”—on July 15. I couldn’t help chuckling. After all, she tried to get it right. Unfortunately, she was actually one month late on her payment. Estimated taxes are used to pay taxes on income not [...]
Why Estate Planning Documents Should Be Part of Your Financial Planning Strategy
There is an old saying that people spend more time planning for a vacation than they do for retirement. You can imagine that most people spend even less time with estate planning. Planning for death or incapacity might not be on your bucket list, but it must be considered, especially when it relates to your [...]
The Fed’s Stimulus Policies are Actually Paying Off: Study
The Fed was right about some of its stimulus policies, basically. A new study shows that the Federal Reserve's bond-buying stimulus program, which has kept mortgage rates artificially low for the past four years, had a measurable, positive impact on American households and the economy. Of course, it didn't work in the exact way the [...]
How Long Should I Keep My Tax Paperwork?
“How long should I keep my tax paperwork?” This is a tax question people ask me regularly, often while they are pleading to be released from the towering burden of mounds and mounds of tax records. It’s probably not practical to store the paperwork forever, but you know my “rule of records”: the minute you [...]
What You Need to Know About Inheritance Taxes
Getting an inheritance can be such a bittersweet experience. You might receive lots of money or special mementos from the deceased, but the person with whom you’d like to share the experience is gone. During this trying time, it’s likely that the last thing on your mind is taxes. But taxes are an important consideration [...]
Six Tax Planning Tips for Selling Your Home
Your home is one of your most interesting assets when it comes to income taxes. It’s easy to avoid paying taxes on most (or all) of the profits once you’ve sold it, and you can even turn home ownership into a tax-free source of income. When you sell your home, you can exclude a big [...]
The Ilyce Glink Show on WSB Radio: August 10, 2014
On this week's radio show, Ilyce discussed the economy, real estate investing mistakes and starting an innovative business. Lindsey Piegza, Chief Economist, Sterne Agee Lindsey is the Chief Economist for Sterne Agee, specializing in the research and analysis of economic trends and activity, world economies, financial markets and fiscal policies. Prior to her role with Sterne [...]
Five Mid-Year Tax Tips
Tax season doesn’t end when you file your taxes on April 15. Tax issues continue all year round, so it’s important to regularly assess your tax situation, and now—halfway through the year—is the perfect time. At this point, you probably have some idea about the direction in which your personal balance sheet is headed, and [...]
Buying a Home? Know What It Really Costs
You’ve done all the right prep work to buy a home. You saved for a down payment, cleaned up your credit, and got pre-approved for a mortgage. You found a home that you can afford, and now the days are ticking down to closing—and everything seems too good to be true. Unfortunately, it could be. [...]