Solar panels and energy credits

Solar panels have long been recommended by me because of the whopping 30% tax credit that you get not to mention the substantial savings from the energy that they generate. HOWEVER, there has been an increase in recent thefts of solar panels especially in remote locations Most thefts occur in remote areas but no where …

Solar panels and energy credits Read More »

Pension maximization

Do you qualify for a pension from your employer? Is a reduced pension option available to your spouse in case you die? WAIT: Read over this post very carefully. Although taking a reduce pension in order to get your spouse payments for life seems like the right choice, it usually isn’t! Read over the comments …

Pension maximization Read More »

Tax debt reduction firms.

Be wary of firms that advertise about getting you out of large IRS debts for pennies on the dollar. I am sure that you have seen many firms on TV, such as Roni Deutch , Tax Masters, J.K. Harris and others advertising that they can get you out of your IRS debts for pennies on …

Tax debt reduction firms. Read More »

What do you do if your records were distroyed?

Lower Your Taxes What do you do if you have lost or destroyed records?You can use the desperation , otherwise known as reconstruction method. IRS and CRA allows you to reconstruct your records if they were lost due to circumstances beyond your control such as flood, fire, earthquake,theft. You can’t reconstruct records if they were …

What do you do if your records were distroyed? Read More »

Life Insurance Trusts

Do you own life insurance on your life or that of your spouse? If so, you could be in trouble, estate tax and probate wise, unless you take certain steps noted here. Life insurance owned individually is included in your estate for estate taxes and if paid to to the estate, could be subject to …

Life Insurance Trusts Read More »

Planning for the Medicare Surcharge that will apply to property sales in 2013 and thereafer

Do you plan on selling your home in the near future? If so, you might want to sell it before the year 2013. Starting in 2013, there will be a 3.8% medicare surcharge in all taxable gains. If you have gains over $250,000 single or over $500,000 married, any excess is taxable for both capital …

Planning for the Medicare Surcharge that will apply to property sales in 2013 and thereafer Read More »

Cutting Dental Costs

Here is a trick that I have used to lower dental costs. There are some costs that aren’t covered by dental insurance such as implants, which I needed. Even braces, if covered,only cover part of the costs. Thus, what did I do. I contacted a dental discount plan that included the oral surgeons and/or dentists. …

Cutting Dental Costs Read More »

Innocent Spouse Relief

Sadly, many folks get divorced. When married, they probably filed joint returns making them jointly liable for all tax debts. However, there is some relief. If the IRS goes after you for something that your ex-spouse did, you can elect “innocent spouse relief” that allows you to be taxed on your share of income and …

Innocent Spouse Relief Read More »

%d bloggers like this: