When you are a resident of California or New Jersey, having an HSA and especially investing in the HSA require extra tax reporting. Here’s how to do it.
A Solo 401k Is Not A Bigger IRA
A solo 401k is still a 401k. Know all the rules and keep it as simple as possible.
Paying Taxes: By The Book Or Catch Me
Do you taxes by the book. It’s the law and it’s the right thing to do. Say no to aggressive tax tactics even though you may get away.
IRS Advisory On Prepaying Property Tax
Prepaying property tax is deductible in 2017 only if the tax is already assessed.
Make Mortgage Payment Due On January 1 In December
Making mortgage payment due on Jan. 1 in December will lower your taxes if you will switch from itemizing to the standard deduction.
High Income In Blue States Under New Tax Law
Losing the state income tax and property tax deductions isn’t a big deal even for someone with a high income in a Blue State.
HSA Contribution Limit For Two Plans Or Mid-Year Changes
HSA contribution limit gets more complicated when a married couple are on different health plans or when they change insurance plans during the year.
IRA Recharacterization Illustrated
A graphical illustration for what happens when you recharacterize an IRA contribution or conversion.
If IRS Offers Free Direct Filing How Many People Will Use It?
People aren’t looking for the easiest way to file their taxes. They are looking for ways to pay the least amount.
Roth IRA Conversion Does Not Really Convert Your IRA
A graphical illustration of what happens when you do a Roth IRA conversion.
One-Time Transfer From IRA To HSA: Forget About It
The qualified HSA funding distribution is practically useless.
Stop Wasting Money On Doing Your Taxes
If you use a brick-and-mortar tax business for doing your tax returns, you pay hundreds of dollars, when you can do it all free with software. Stop throwing away your hard-earned money!