WM. F. Horne | August 2015

25Aug2015: Reverse Mortgages – A Possible Cash Flow Solution for Seniors

Article Highlights: Reverse Mortgages Reverse Mortgage Terms Who deducts the Interest? When is the Interest Deductible? Some retirees are faced with mounting debt and inadequate income. What options do these seniors have, especially if they have a mortgage on their home and their retirement income is too low to cover the mortgage payments and have enough left

19Aug2015: Bunching Your Deductions Can Provide Big Tax Benefits

Article Highlights: Itemized Versus Standard Deductions Medical Expenses Taxes Charitable Contributions If your tax deductions normally fall short of itemizing your deductions or even if you are able to itemize, but only marginally, you may benefit from using the “bunching” strategy. The tax code allows most taxpayers to utilize the standard deduction or itemize their deductions if

14Aug2015: Eldercare Can Be a Medical Deduction

Article Highlights: Nursing Homes Meals and Lodging Home care Nursing Services Household Employees With people living longer, many find themselves becoming the care provider for elderly parents, spouses and others who can no longer live independently. When this happens, questions always come up regarding the tax ramifications associated with the cost of nursing homes or

11Aug2015: Planning Your RMD and IRA Distributions For 2015

Article Highlights: Under Age 59.5 Penalty Age 70.5 Mandatory Distribution Age Impact on Social Security Income Required Minimum Distributions Under-Distribution Penalty Penalty Waiver Other Pension Plans We spend most of our lives saving for retirement by putting funds away in tax-advantaged ways. But many of us forget about planning the withdrawals so that they are tax advantaged as well. Although

07Aug2015: Tips to Reduce Payroll Stress

When you hire your first employee, you create an entire new task of complying with employment and labor laws and issuing a payroll. Payroll taxes create more administrative burden for small businesses than any other tax, according to the 2015 Small Business Taxation Survey from the National Business Association. Plus, compliance with payroll

03Aug2015: Preventing Tax Problems When Employees Travel

Article Highlights: Employer Deduction for Travel Expenses How an Employee Treats Travel Expenses Employer Accountable Plans Lodging When Attending Local Employer Events Tax Home Temporary Work Location Sending employees on business trips is essential for countless companies and can result in tax headaches for both the employer and the employee if the tax regulations are

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