Personal

 

Getting Ready for 2015

A new tax year is set to dawn shortly and recently released cost-of-living adjustments can help you plan for 2015. Due to low inflation, increases in the tax brackets and other tax items are minimal; ...

Medicare and Taxes

Medicare is a government health program primarily for the 49 million Americans age 65 and older. Those covered by Medicare are deemed to have minimum essential health coverage as required by the Affor...

Tax Breaks for Grandparents

The tax law does not contain any tax rules specifically for grandparents. However, there are a number of breaks that grandparents can avail themselves of to reduce their tax bills while helping their ...

What You Didn’t Know About 529 Plans

The cost of higher education continues to rise each year, making it challenging for families to manage this financial burden. Fortunately, all states as well as a consortium of private institutions of...

Tax Rules of Yore: Tax Breaks You Can’t Use Now But …

The tax law is a moving target. If you look at any given moment, you’ll see rules that may disappear at a later glance. In the past several months, JKLasser.com has been asked about each of the foll...

Tax Relief for Disaster Victims and Those Who Help Them

Winter blizzards, spring tornadoes, summer hurricanes, fall wildfires—disasters can occur at any time, and despite precautions, you may suffer a financial disaster because of Mother Nature. Tax reli...

5 Things You Didn’t Know About Health Savings Accounts

Health care costs may not be increasing at the same pace as in prior years, but costs for most people have not gone down. One solution for finding more affordable health coverage, especially for those...

Does It Pay to Be Old?

That may be the conclusion you reach when you see the tax breaks limited to those of a certain age:Medical and dental expenses. While most taxpayers can itemize these costs only if the total excee...

Scholarships, Fellowships, and Other Education Assistance

Higher education pays off in greater lifetime earnings, says the U.S. Census Bureau (https://www.census.gov/prod/2002pubs/p23-210.pdf). But higher education isn’t cheap, and most students and their ...

25 Ways to Receive Tax-Free Income

Income that the tax law exempts is the best type to receive. This income becomes more valuable as your tax bracket increases. The following is a list of tax-free income that you may be entitled to. Be...

Lifetime Uses of Life Insurance Policies

Life insurance is designed to provide a surviving spouse, children, or other beneficiaries with funds after the insured’s death. It can also be used for other important purposes, such as buying out ...