News Articles

10

November

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How higher-bracket taxpayers can take advantage of the 0% long-term capital gains rate

How higher-bracket taxpayers can take advantage of the 0% long-term capital gains rate The long-term capital gains rate is 0% for gain that would be taxed at 10% or 15% based on the taxpayer’s ordinary-income rate. If you have loved ones in the 0% bracket, you may be able to take advantage of it by … Continued

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20

October

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Self-employed? Save more by setting up your own retirement plan

Self-employed? Save more by setting up your own retirement plan If you’re self-employed, you may be able to set up a retirement plan that allows you to make much larger contributions than you could make as an employee. For example, the maximum 2014 employee contribution to a 401(k) plan is $17,500 — $23,000 if you’re … Continued

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30

September

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Maximizing depreciation deductions in an uncertain tax environment

Maximizing depreciation deductions in an uncertain tax environment For assets with a useful life of more than one year, businesses generally must depreciate the cost over a period of years. Special breaks are available in some circumstances, but uncertainty currently surrounds them: Section 179 expensing. This allows you to deduct, rather than depreciate, the cost … Continued

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25

September

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Watch out for the Wash Sale Rule

Watch out for the Wash Sale Rule If you’ve cashed in some big gains this year, consider looking for unrealized losses in your portfolio and selling those investments before year end to offset your gains. This can reduce your 2014 tax liability. But if you want to minimize the impact on your asset allocation, keep … Continued

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08

August

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Installment sales offer both pluses and minuses

Installment Sales Offer Pluses and Minuses A taxable sale of a business might be structured as an installment sale if the buyer lacks sufficient cash or pays a contingent amount based on the business’s performance. Installment sales also may make sense if the seller wishes to spread the gain over a number of years — … Continued

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