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Perlinger Consulting > All Posts (Page 12)
A depiction of various u.s. dollar bills with a label reading "inflation" placed centrally over them.

WHAT DOES THE INFLATION REDUCTION ACT MEAN TO YOU?

Article Highlights:Increased Internal Revenue Service (IRS) FundingDrug PricingAffordable Care Act Insurance PremiumsCorporate Minimum TaxExcise Tax on Corporate Stock BuybacksHome Solar Energy Credit Extended and IncreasedCredit For Energy Efficient Home ModificationsClean Vehicle CreditCredit For Previously Owned Clean VehiclesCredit For Qualified Commercial Clean VehiclesResearch CreditOn August 16,...

A woman in a blue shirt speaking on a phone while looking at documents beside a laptop in a stylish office.

TAKE TAX ADVANTAGE OF A LOW-INCOME YEAR

Article Highlights:Exercise Stock OptionsConvert a Traditional IRA to a Roth IRAMaximize IRA DistributionsSell Appreciated StockDelay Business ExpendituresRelease DependencyDelay Personal Deductible ExpendituresPeople generally assume that tax planning only applies to individuals with the big bucks. But think again, as some tax moves benefit lower-income taxpayers and...

Assorted euro banknotes and coins with "interest" spelled out in letter blocks on a dark surface, overlaid with a company watermark.

NOT ALL INTEREST IS DEDUCTIBLE FOR TAXES

Article Highlights:Interest CategoriesCategory DeductibilityInterest Tracing RulesA frequent question that arises when borrowing money is whether or not the interest will be tax deductible. That can be a complicated question, and unfortunately not all interest an individual pays is deductible. The rules for deducting interest vary,...

A middle-aged couple relaxes on wooden chairs outside a camper trailer, the woman reading a book and the man using a laptop.

WHAT IS A REQUIRED MINIMUM DISTRIBUTION?

Article Highlights:Required Minimum DistributionsWhen the Distributions Must BeginRMD Distribution TablesFiguring the Amount of the DistributionBeneficiary Distribution RulesSurviving SpouseEligible Designated BeneficiariesAccount Owner’s Minor ChildOther BeneficiariesTen Year RulePending LegislationRequired minimum distributions (RMDs) are required distributions from qualified retirement plans. RMDs are commonly associated with traditional IRAs, but...

Senior couple consulting with a financial advisor in an office, with a focus on estate planning displayed on a computer screen in the foreground.

WILL YOUR RETIREMENT INCOME BE ENOUGH?

Article Highlights:States With No Income TaxSocial Security BenefitsRoth IRA Retirement AccountTraditional IRA Retirement AccountSpousal IRABack-Door Roth IRASaver’s CreditEmployer PensionsEmployee Funded Retirement PlansHealth Savings AccountsBrokerage AccountsMunicipal Bonds InvestmentsHome Equity & Gain ExclusionReverse MortgageWhole Life Insurance Cash ValueThat is an important question because the actual money you...

Golden retriever wearing a red service dog vest, smiling at the camera with a snowy background.

TAX BENEFITS FOR PEOPLE WITH DISABILITIES

Article Highlights:ABLE AccountsDisabled Spouse or Dependent Care CreditMedical DeductionsHome ModificationsSpecial SchoolingNursing ServicesImpairment-related Work ExpensesIndividuals with disabilities, as well as parents of disabled children, are eligible for several income tax benefits. This article explains some of these tax breaks. ABLE Accounts – A federal law allows...

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