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2012 Tax Benefits Increase Due to Inflation Adjustments

Posted in Tax News on February 22, 2012

Every year the IRS must adjust the dollar amounts of a variety of provisions which affect every taxpayer, to keep pace with inflation. New dollar amounts affecting 2012 returns, filed by most taxpayers in early 2013 include the following:

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The Difference Between Short-Term and Long-Term Capital Gains

Posted in Tax News on November 2, 2011

The sale of a capital asset will result in a capital gain.  Depending on the holding period of this asset, the gain will either be short-term or long-term. Long-term gains have a lower, preferred income tax rate.  The holding period…

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Happy 75th Birthday to the Social Security Administration

Posted in Estate Planning, Tax News on August 12, 2010

Blow out the candles and cut the cake, the Social Security Administration (“SSA”) is celebrating its 75th birthday! I recently attended a presentation by one of the Social Security representatives.  If you get a chance to attend one of these sessions,…

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A College Education is Expensive…Fight Back!

Posted in Tax News on May 21, 2010

According to the College Board, the average cost of tuition at a public school increased by 6.5% last year.  The average increase in tuition at a private school was 4.4%.  This put the average cost of tuition, room and board,…

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Rising Rates and Five Other Housing Trends

Posted in Tax News on April 15, 2010

Guest Post by Bill T. Daniels, Certified Mortgage Coach The Federal Reserve’s purchases of mortgage-backed securities kept interest rates near historic lows for much of last year.  But within a week of the program’s expiration, rates for 30-year fixed-rate mortgages…

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