income tax

An Overview of Charitable Giving in Life & Death

Through the appropriate use of wills, trusts, and gifts, you and your family can avoid tax while making charitable gifts to the organizations and causes closest to your hearts. In this brief 2-page read, you’ll learn about charitable giving in life and death. Many thanks to our friend Michael Gluski of Ameriprise for making this […]

How to Make Money by Giving It Away this #GivingTuesday

As you probably already heard, today is #GivingTuesday. We join the millions of folks around the world giving to their favorite causes and nonprofits – because we believe in doing good and doing well. But did you know that by doing good by giving to charity, you can also save money on your taxes? Most […]

What’s the Deal with Married Filing Separate?

When it comes to tax time, if you were legally married on December 31st of the tax year, then you can claim your filing status as either married filing jointly or married filing separately. Now that the feds recognize same-sex marriage, the same choice applies to same-sex couples, too. 95% of American married couples will […]

10 FAQs on Tax Deductions

Do you want to reduce your income tax? Then look carefully at the IRS’s allowable tax deductions. Deductions are subtracted from your adjusted gross income (AGI), determining the amount of tax you actually owe Uncle Sam. The IRS allows two ways to take deductions: the standard deduction or by itemizing certain deductions using Schedule A. […]