by Marilou Davido | Nov 19, 2023 | Resources
Taxpayers who sell their home may qualify to exclude all or part of any gain from the sale when filing their tax return. Here are some things that homeowners should think about when selling a home: Capital Gains Tax: The profit from selling your home is taxable income...
by Marilou Davido | Nov 18, 2023 | Resources
A will indicates how the will’s maker (testator) wants his or her probate property distributed at death. A probate estate includes a decedent’s real estate and personal property, including cars, furniture, bank accounts, stocks, and other belongings, as long as: the...
by Marilou Davido | Nov 18, 2023 | Resources
Divorce can bring many changes to a Net Worth statement, as assets are allocated between the ex-spouses. In addition, consideration should be given to tax-related items, like filing status, deductions, and credits. Qualified Retirement Plan Accounts A Marital...
by Marilou Davido | Nov 6, 2023 | Resources
Medicare is a federal health insurance program in the United States that provides coverage to eligible individuals, primarily those aged 65 and older, as well as certain younger individuals with disabilities. Medicare is divided into four main parts, each addressing...
by Marilou Davido | Oct 24, 2023 | Resources
With year-end planning comes tax planning, and there are many tax strategies that can be employed to minimize income tax. Minimizing income tax is a common financial goal for many individuals and businesses. Effective tax strategies can help you keep more of your...
by Marilou Davido | Oct 23, 2023 | Resources
General Information The IRS requires you to take money out of most types of tax-deferred retirement accounts (including Traditional IRA, SEP-IRA, and Simple IRA) when you reach age 72 (73 if you reach age 72 after Dec. 31, 2022.) The same can be said for 401(k) and...
