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Category Archives: TAX TIPS
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
“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
“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
“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
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
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