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Year-End Retirement Tax Planning

One relatively easy way to reduce exposure to a possible stock market correction without taking taxable gains is to sell equities held in a tax-advantaged retirement account such as an IRA or a 401(k). Transactions inside these accounts don’t generate taxes. Example 1: Sue Taylor has $200,000 in her 401(k) and $200,000 in a taxable investment account. In both places, $120,000 (60%) is in stocks and stock... Read More

Year-End Family Tax Planning

Another approach to reducing stock market exposure without incurring steep tax bills involves year-end gifts to family members. One way to use gifts in family tax planning is to transfer assets to youngsters such as your children or grandchildren. In 2015, the annual gift tax exclusion is $14,000. (See the article, “Year-End Estate Tax Planning,” in this issue for more details.) Example: Gil and Karen... Read More

Year-End Investment Tax Planning

There’s one certain way to avoid owing tax on capital gains: Don’t sell any investments at a profit. At least, wait until January to take gains, postponing any tax obligation for a year. Moreover, there’s an argument for staying the course with your stock market holdings. Historically, investors following a “buy and hold” strategy often have outperformed those who tried to move in and out of the... Read More

HLB International’s Conference in Bangkok -Transformation and Opportunities

HLB International’s annual conference brought together 100 professionals from 33 countries in Bangkok from 21 to 24 October. Breaking borders by Transformation and Opportunities; Improving Efficiency, Productivity & Profitability through Technology as well as insights from well-informed speakers were part of the program. Richard Taylor and Michael Bohling from HLB Gross Collins, P.C. were in... Read More

Social Media for Business Owners

The explosion of social media has changed marketing plans for many companies, large and small. Indeed, you already may be using Facebook, LinkedIn, Twitter and so on to boost your business. If you’re not up and running on social media, though, there’s no need to panic. Some basic steps can get you off to a good start. Recognize your resources In all likelihood, some of your employees are comfortable... Read More

Where to Find Investment Income

Yields on bank accounts and money market funds continue to be negligible. That’s discouraging for people who anticipate cash flow from their savings. In some cases, such income is vital for paying ongoing expenses. Even if that’s not the case, the unearned cash flow would be a nice way to pad your portfolio. Of course, be sure to understand any investment carefully before you commit. For taxable... Read More

Pros and Cons of Roth IRAs

Annual contributions to IRAs, including Roth IRAs, are now capped at $5,500 ($6,500 if you’re 50 or older). Roth IRA contributions aren’t tax deductible, they’re available only to workers and their spouses, and they’re off-limits to high-income taxpayers. Nevertheless, there is a way to get large amounts into a Roth IRA, regardless of your income or your work status. You can convert a tax deferred... Read More

Home Mortgage Deduction Doubled for Unmarried Co-owners

Home mortgage interest deduction doubled for unmarried co-owners.The Ninth Circuit Court of Appeals, reversing a Tax Court decision, concluded that the tax law’s limits on the amount of debt eligible for the home mortgage interest deduction ($1 million of mortgage “acquisition” debt and $100,000 of home equity debt) are applied on a per-individual basis, and not a per-residence basis as... Read More

HLB International Appoints Three Members in Costa Rica

HLB International, one of the leading global accountancy networks with presence in 130 countries, has recently signed three members in Costa Rica: Esquivel & Alvarez -eyacpa- Established in 1997 and based in Heredia, Esquivel & Alvarez -eyacpa- provides nationwide audit, accounting and tax services with special expertise in the following industries and services: agriculture and agro-industry... Read More