Category Archives: TAX TIPS

Who’s Doing Your Taxes? The Battle Over Your Business – and Why it Matters

In 1963, Time magazine published an excerpt from a letter written by Leo Mattersdorf, a friend and accountant of Einstein, who had prepared the professor’s income tax returns and advised him on his taxes for many years: Einstein: “The hardest … Continue reading

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Health Savings Accounts: Earn Healthy Financial Returns with an HSA

“Health Savings Accounts (HSAs) are IRAs on steroids.” – Paul Zane Pilzer, economist, author, entrepreneur, professor. This month, we continue to explore health and wealth. Last week, we examined FSAs (or Flexible Spending Accounts/Arrangements), a tax-slashing employee benefit that most … Continue reading

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Flexible Spending Accounts: The Neglected Tax-Slashing Strategy

“The FSA may be the most underutilized tax-advantaged vehicle the government has given us.” – Jerry Ripperger, director of consumer health for the Principal Financial Group, Des Moines, Iowa. Last week, we looked at the connection between health and wealth.  … Continue reading

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Tax Deferal and the Sword of Damocles

“Judge no one happy until his life is over.” – Ancient Roman proverb Tax Deferral and the Sword of Damocles At first glance, especially from a distance, some arrangements may seem quite attractive. But when a fuller understanding is acquired, … Continue reading

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A Proposed Tax Change to Inherited IRAs is Dropped

A PROPOSED TAX CHANGE TO INHERITED IRAs IS DROPPED, BUT IS IT A SIGN OF THINGS TO COME? One of the unknowns that lurks in the shadows of many qualified retirement plans (such as IRAs, TSAs, and 401(k)s) is future … Continue reading

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The Confounding Tax Consequences of Complex Financial Instruments

There’s a long-standing guideline for individual investors that says you should never buy a particular financial instrument purely for its tax-favored status – the underlying investment opportunity needs to make sense apart from its tax treatment. However, this does not … Continue reading

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Mistakes to Avoid with Your Tax Refund

“A fool and his money are soon parted,” goes the old English Proverb. And apparently, there is truth to it, as proven by the statistics on lottery winners who go broke. But nobody wants to be called a fool or … Continue reading

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