The Tax Benefits of Owning a Home

by | Feb 20, 2014 | Real Estate, Taxes

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 Advantages of Retirement Accounts

by | Oct 2, 2013 | Retirement, Taxes

This is the sixth post in my “Taxes for Your Family” series. I’m always surprised when people don’t take advantage of tax-advantaged retirement accounts. Don’t they realize it’s the best deal Uncle Sam has going? Here are four ways saving in a...

Five Questions About 529 Plans

by | Aug 26, 2013 | Kids, Planning, Saving, Taxes

Have you been considering opening a 529 college savings plan?  Contributing to our son’s college education is one of my personal goals.  I went to an expensive private university (NYU), and I am still paying down those pesky student loans.  We started a 529 plan with...

What is the AMT and Who Pays It?

by | Feb 26, 2013 | Taxes

I really strive to explain complex topics in a straightforward way.  But the AMT is a toughie. Our “main” tax code is complicated enough.  But there is actually a second set of tax rules: the Alternative Minimum Tax rules. What is the AMT? The Alternative Minimum Tax...