Changes to New York Estate Tax Laws (Good News!)

Until recently, New York residents who died with estates exceeding $1,000,000 in value were subject to the State estate tax.  (Note: This is separate from the Federal estate tax exclusion, which is $5.34M for 2014.) That all changed on March 31, 2014, when the NY...

The Tax Benefits of Owning a Home

This is the seventh post in my “Taxes for Your Family” series. There is a lot of confusion about the tax benefits of owning a home.  But what are they? Itemize Deductions There are several deductions available to homeowners who itemize on their tax return: You can...

Tax Changes on the Way (for 2012 & 2013)

This time next year, you’ll probably be thinking about your 2012 taxes.  Of course, laws could be passed and things could change, but as of now several changes will be coming your way at the end of 2012. Federal Income Tax Rates Your marginal tax rate is going...