Three strategies for tax-smart giving

Three strategies for tax-smart giving

Aug 10, 2016 | Tax Tips

Giving away assets during your life will help reduce the size of your taxable estate, which is beneficial if you have a large estate that could be subject to estate taxes. For 2016, the lifetime gift and estate tax exemption is $5.45 million (twice that for married...
Don’t roll the dice with your taxes if you gamble this year

Don’t roll the dice with your taxes if you gamble this year

Aug 3, 2016 | Tax Tips

For anyone who takes a spin at roulette, cries out “Bingo!” or engages in other wagering activities, it’s important to be familiar with the applicable tax rules. Otherwise, you could be putting yourself at risk for interest or penalties—or missing out on tax-saving...
Should you make a “charitable IRA rollover” in 2016?

Should you make a “charitable IRA rollover” in 2016?

Jul 27, 2016 | Tax Tips

Last year, the charitable IRA rollover, a tax break valued by many charitably inclined retirees, was made permanent. If you are age 70½ or older, you can make direct contributions (up to $100,000 annually) from your IRA to qualified charitable organizations without...