The Tax Reform Act of 1986 first brought about the concept of taxation on the investment and unearned income for those individuals over thirteen and under seventeen years of age. It is commonly known as the “Kiddie Tax.” Originally the law only covered children over fourteen, a
One of the major complications facing aging individuals is the passing down of wealth to the next generation without creating large tax implications. The dynasty trust is a straightforward estate planning technique that can substantially reduce taxes.
Identity theft isn’t a new crime by any stretch of the imagination. With the use of electronic fund transactions, electronic tax filing, and the general increase of personal data being available online, identity theft is easy to perpetrate and has increased significantly in the last few years.
By now, most people have heard the term HSA or Health Savings Account. But what is it? A Health Savings Account combines a high deductible health insurance plan with a tax savings account.