• MEDICARE WENT UP ….  OUCH!

    There are reasons for Medicare to Increase…. Your income is higher.  That’s good and we hope your income stays higher. But what if it increase because of an unusual event… can we explain that and get it lowered? Well, yes, kind of and maybe.  Check this list.  Even if your reason is not on this…

  • Wash-Sale Rule and Crypto

    Selling securities at a loss, then purchasing substantially identical securities within 30 days prohibits the capital loss write-off. This includes transactions between spouses and closely held corp. Crypto losses are CURRENTLY not considered securities.  Therefor the wash-sale rule does not apply. […]Read More… from Wash-Sale Rule and Crypto

  • 2024 Social Security COLA Increase

    Cost of Living Adjustment (COLA) will increase 3.2% for more than 71 million Americans.  For more information go to www.ssa.gov It is a good idea to go to www.ssa.gov and make sure the earnings records are correct.  When I did it, found 2 missing years.  Being that I keep all tax returns I was easily able to provide…

  • 2023 Home Energy Credit 

    Credit available up to $150 for home energy audit on principal residence. Auditor must provide signed written report with significant cost-effective improvements. Must also include estimate of energy & cost savings. For the first year 2023 the auditor need not be qualified. But for the following year 2024….. Put IRS Notice 2023-59 into Google. It…

  • 529 Account to Pay College Debt

    Up to $10k distributions from 529 accounts can be used to pay college debt… This is a LIFETIME limit, not an annual limit. 529 distributions exceeding $10k are taxable and subject to !0% penalty. […]Read More… from 529 Account to Pay College Debt

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