by Kathryn A. Flanigan | Nov 5, 2013 | Uncategorized
Have you just been given power of attorney? Has your elderly parent added you to their financial accounts so you can help with paying the bills? If so, you are now a fiduciary, with legal and ethical responsibilities to act in the best interest of the person who gave...
by Kathryn A. Flanigan | Nov 5, 2013 | Uncategorized
While inheritances are not considered income for federal tax purposes, any earnings that may come from that inheritance will be taxable, including dividends on inherited stocks or mutual funds. Your inheritance may also be subject to taxes on any gains from selling...
by Kathryn A. Flanigan | Nov 5, 2013 | Uncategorized
The Treasury Department has issued new rules on health spending accounts (HSAs) that allow rollovers of up to $500 from year to year, effective immediately.According to the Treasury, more than 14 million Americans use HSAs , which allow employees to contribute up to...
by Kathryn A. Flanigan | Nov 5, 2013 | Uncategorized
The IRS has released its retirement plan limitations for 2014, and while the contribution limits remain the same as 2013, the income phase-out ranges have increased.Here are the contribution limits for 2014:401(k), 403(b) and 457 plans: maximum contribution of $17,500...
by Kathryn A. Flanigan | Nov 5, 2013 | Uncategorized
California is one of nine community property states, which requires special planning when it comes to a married couple’s federal tax return. Here are five tax tips for California residents:Know the law. California law governs what married couples can consider to...
by Kathryn A. Flanigan | Oct 22, 2013 | Uncategorized
When we reach our 30s, most of us are settling into our careers, starting families and thinking more seriously about our financial futures. Here are 7 savvy money tips that will help 30-somethings plan for a good financial future, including retirement:1. Have an...
