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The new tax code?

Our new president hasn't been sworn in yet, but he does have a tax overhaul proposal that has a decent chance of passing. Every change has winners and losers. Even changes that seem positive when first announced. One key provision of the new plan is to bump the standard deduction, from $6,350 single / $12,700 [...]

A Tough Endgame

As I was doing my mother in law's taxes, over three years ago, I wrote, Mom – You don’t itemize, describing her tax return a bit and the fact that her medical deductions weren't enough to flow to her itemized deductions, and so she remained a Standard Deduction filer. Since her taxable income put her [...]

Big Tax Refunds Are Really Bad

I've been spending time at Money.Stackexchange as a moderator and top poster. Recently I ran into a bit of pushback on what I thought was an obvious question. Why does my tax refund need to be as close to zero dollars as possible? Now, of course, it doesn't have to be anything, but over the years, [...]

2015 Year End Tax Tips

The end (of 2015) is near. Still, you can do a lot to help your finances before the ball drops on Thursday and we ring in the new year. Let's look at some of my top year end tips - The Charitable RMD is now an option that will be available every year. This part of [...]

Tax Loss Harvesting

I've been known to use the expression, "Don't let the tax tail wag the investing dog." I stand by that remark. If you own a stock and it's time to sell since it no longer is a stock your own criteria would justify, by all means, sell it. Holding it for an extra month to [...]

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