If I Sell My Home- Do I Pay Taxes?

With the increase of property values, many people are wondering about the capital gains implications of selling a home. Detailed below is information that you will find helpful for your main residence, a second home, and a rental property. Selling your main home for more than you paid generally does not result in a taxable.. read more →

Records Retention

How long should I keep my tax related documents? That is a common question many taxpayers ask. You should keep tax records for as long as the IRS has the ability to audit your return and/or impose additional taxes, which generally is three years after you file your return. This means you likely can shred.. read more →

Tax Update

As you are gathering information for your 2013 tax return, remember that we don’t need all of your information to get a good start on your return. If you are waiting for just a few items, please send in your information now- the earlier the better! We can add the missing pieces later. Not only.. read more →

Should You Be a Do-It-Yourself Tax Preparer?

When my husband was between jobs he decided that it would be a good idea to seal the driveway himself instead of hiring professionals to do it.  The driveway looks great, but it was not worth the time, hassle and uncertainty that went into the job.  The professionals may have been able to come up.. read more →

Retirement Withdrawal Strategies – Is the 4% rule of thumb still appropriate for you?

Many personal finance websites, calculators, and newsletters have long advocated that most retirees would be able to take 4% from their savings in their first year of retirement and then increase that withdrawal amount in accordance with inflation every year for at least the next 30 years.  While even the creators of this rule of.. read more →

Preparing for Tax Season

As you are gathering information for your 2012 tax return remember that we don’t need all of your information to get a good start on your return. If you are waiting for just a few items, please send in your information now – the earlier the better. We can add the missing pieces later. Not.. read more →