Insights

Grandparent Aid for College Costs

Many grandparents would like to help their grandchildren with the steep costs of higher education. That’s often a laudable goal, but some methods of providing this assistance might be more effective than other tactics.  Grand gifts The simplest tactic is to give money...

Tougher Rules on Reverse Mortgages

The Federal Housing Administration (FHA) has imposed more stringent requirements on reverse mortgages, making them increasingly difficult to obtain. For qualified borrowers, though, continued low rates and the spread of so-called “purchase loans” can make it...

Tax-Free Income From Renting Your Home

From Canton, Ohio, where the Pro Football Hall of Fame Weekend takes place in August, to Los Angeles, which has Haunted Hayrides to celebrate Halloween throughout October, cities small and large host special events throughout the year. Moreover, oceanfront communities...

Deductions for Dining Out

Champagne and caviar on the IRS? Typically, the answer is no. Nevertheless, there are times when you can go out to eat—perhaps to the best restaurant in town—and recoup some of your costs through tax savings.  Business as usual Perhaps the most obvious way to deduct...

A Brief History of the Income Tax

History of the Income Tax by Bob Green Bob Green is a licensed CPA in New York State and also happens to be the father of the TJT IT Director, Drew Green.  Bob allowed us to share an article he wrote recently on the history of income tax. Income taxes are a key factor...

Prime Points for Your Buy-Sell Agreement

Businesses with more than one substantial co-owner should have a buy-sell agreement. This agreement can help all parties when the inevitable happens, and one of the owners no longer can or will participate in the company as they had been. For the best result, your...