Jul 30, 2019 | Firm Updates, Individual Tax
Years ago, Congress enacted the “kiddie tax” rules to prevent parents and grandparents in high tax brackets from shifting income (especially from investments) to children in lower tax brackets. And while the tax caused some families pain in the past, it has gotten...
Nov 14, 2018 | Firm Updates, Individual Tax, Tax Tips
As we approach the end of 2018, it’s a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps. Here are some tips: Avoid surprise capital gains Unlike with stocks, you cannot avoid capital gains on mutual...
Nov 3, 2017 | Firm Updates, Individual Tax, Tax Tips
Many investors, especially more risk-averse ones, hold much of their portfolios in “income investments”—those that pay interest or dividends, with less emphasis on growth in value. But all income investments aren’t alike when it comes to taxes. So it is important to...
Jan 24, 2017 | Firm Updates, Retirement Planning, Tax Tips
Investment interest—interest on debt used to buy assets held for investment, such as margin debt used to buy securities—generally is deductible for both regular tax and alternative minimum tax purposes. But special rules apply that can make this itemized deduction...