We get asked this question a lot: “Why are Social Security benefits taxed?” It’s perplexing to many people that the government would give them a benefit designed to help them financially, and then, tax that benefit, which is definitely not a help to them financially. It does seem counter-intuitive, doesn’t it? Well, it is a fairly recent development. Social Security… Read more »

If you think you might be getting divorced in 2019, 2018 might be a better year to do it. Because, divorce might cost you more under the new tax laws. Not because the law demands that you give up deceased Aunt Dorothy’s jewelry collection to your soon-to-be ex, but because the tax deductions for alimony are going away. For people… Read more »

Got kids? You may pay less taxes than before. Among all the other changes in the recent tax laws, the tax credits for dependent children were sort of ignored. But for certain families, the difference could be considerable. The short version is this: The child tax credit for all eligible taxpayers has doubled – from $1000 to $2000. The parameters… Read more »