Get started on 2018 tax planning now!

Now that you’re finished filing your 2017 tax return (or with your 2017 tax return filed away for an extension), taxes might be the last thing on your mind right now. However, to get the most out of tax savings now is the best time to begin planning for 2018. It has become especially important … [Read more…]

Tax refunds aren’t always helpful

You’re probably enjoying the influx of cash if you received a large refund after filing your 2017 income tax return, but a large refund isn’t all positive. It also means you were essentially giving the government an interest-free loan. That’s why, during the previous tax year, a large refund would usually state that you should … [Read more…]

Saving tax on restricted stock awards

Today many employees, as part of their compensation and benefits package, receive stock-based payment from their employer. The tax consequences of such payment can be complicated — subject to employment, capital gains, ordinary income, and other taxes. Though, if you receive restricted stock awards, Section 83(b) election might give you a tax-saving opportunity. Convert ordinary … [Read more…]

Taxes and where to live in retirement

When retirement comes, many Americans relocate to another state. State and local taxes should factor into your decision if you’re contemplating such a move. Income, property and sales tax It might appear to be the best option to choose a state that has no personal income tax. However, once you think about property taxes and … [Read more…]