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The IRS will be adjusting many dollar limits and benefits due to inflation. Here are some of the changes starting January 1 , 2013: Deduction for business use of Auto will be 56.5 cents per mile, medical miles increase to 24 cents and charitable miles remain at 14 cents. The annual exclusion for...

The Affordable Care Act was enacted on March 23, 2010. It contains some tax provisions that are currently in effect and others that will be implemented over the next several years. Here is a brief summary of some of the tax related provisions that we will see: Flexible spending accounts will have...

Yesterday, Nina E. Olson, the National Taxpayer Advocate, released a report to Congress that identifies the priority issues the Taxpayer Advocate Service (TAS) will focus on this year. Below I have cut and pasted a summary of some items presented: Impact of Changes in Tax Law on Taxpayers and the I...

Earlier this month I wrote that historically speaking, government shutdowns often produced little impact on the stock markets; that re-affirming a long-term view of your investment portfolios was the best strategy. Now that the boys and girls in Washington have decided that we'll wait until next yea...

A power of attorney is a legal document in which you name another person to act on your behalf. The person you name is called your "agent" or "attorney in fact." You can give your appointed agent broad or limited management powers. You should choose this person carefully because he or she will gener...

Dealing with the death of a loved one is an emotionally draining and challenging process - and struggling with the probate process doesn't often make the time easier for your surviving heirs. Recently I've been working with my clients to help make the transfer of assets upon their death much easier...

The anticipation of September proved to be a lot worse than the actual event. The Federal Reserve didn't reverse course, Syria wasn't the tinderbox it promised to be, and the budget fight was punted into October. Many of the investors who fled to cash in August missed out on a good month of returns...

Shutting down our government is how our elected officials have decided to work out their differences in Washington. I could go on and on about how childish and immature this course of action is, regardless of who is at fault. For your sake, I won't. However, the question has come from many clients -...

After a weekend with no signs of compromise between the House of Representatives and Senate, the United States government stands directly in front of its first partial shutdown in nearly two decades. 800,000 federal workers are anxiously awaiting midnight, tonight to see if Congress will pass a stop...

My wife and I recently welcomed our first child into the world, and there are no words to describe the love that we feel for our daughter. We have been parents for almost two weeks now, and it is certainly better than advertised! Over the past few months, we have been having conversations about how...