Since we’re approaching the end of another fiscal year, this is a good time to start developing your tax strategies.  Here are five tips to consider. Try to avoid selling investments that you have held for less than one year.  The gains on such investments are taxed at the short-term capital gains tax rate, which…
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The Treasury Department and the Internal Revenue Service announced last week that they will apply the federal “married” tax treatment for same-sex married couples no matter where they live — even in the 37 states that don’t recognize their own citizens’ gay marriages. The guidance is part of the government’s implementation of the June 26…
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Congress voted to approve a compromise tax plan at the very last minute – actually beyond the very last minute – in an all too rare showing of bipartisanship to keep the country from falling off the so-called ‘fiscal cliff.’   It is important to note that the economic challenges that the U.S. faces have only…
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If the President and Congress do not act before the end of the year, the Bush-era income tax cuts will expire along with the December 2010 transfer tax increases (estate, gift, and generation-skipping transfer [GST] taxes). Here is a list of some of the key changes and some consequent tax planning strategies. Here are the…
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