Insights

Year-End Tax Planning for Donations

Charitable contributions historically have provided tax benefits, and that may be especially true in 2013. Those contributions reduce your taxable income, which may keep you from moving into a higher tax bracket. Moreover, 2013 has been a rewarding year for investors,...

Summary of NC Tax Law Changes

The North Carolina Department of Revenue recently added a resource document that provides a brief summary of the tax law changes made by prior General Assemblies that take effect for tax year 2013, as well as changes made by the 2013 General Assembly, regardless of...

Year End Tax Planning for Retirement

For most workers, contributing to an employer sponsored retirement plan usually is a good idea. In 2013, since passage of ATRA, making full contributions to plans such as 401(k)s can be an especially valuable tactic for high-income workers who are close to retirement....

Year End Estate Tax Planning

In 2013, the annual gift tax exclusion increased from $13,000 to $14,000. That is, each individual can give up to $14,000 worth of assets to any number of recipients with no tax consequences. (Married couples can give up to $28,000 per recipient.) Example 1: Marjorie...