Revising Your W-4? Seek Professional Advice
Be careful when completing the W-4 form because errors can create some significant financial problems. Read about about it in this Tax Tip.
Expecting a Large Inheritance? Don't Count on It
Considering your parents live could spend 25+ years in retirement, you may not want to count on a large inheritance. Read more in this Financial Tip.
Markets End Mixed After Rocky Week
Markets saw big gains and drops in the week before sequestration is scheduled to begin.
Q&A Time: eBay, Motorola Solutions, Nike, and Drug Makers
Our research analysts discuss listeners’ questions on several stocks.
Understanding the Math of Recovering From Losses
The Research Analysts explain how it takes more than a 10% gain to recover from a 10% loss.
Good Brands vs. Good Stocks
The Henssler Research team discusses the correlation between good customer service reputation and their stock price.
State Tax Refund—Why Do I Have To Report It As Income?
If you receive a deduction on your taxes for something and later recover the "loss," you must return the "loss" to your income. This rule, the Tax Benefit Rule, is seen most often when a taxpayer receives a 1099-G on their state tax refund from the prior year. For an explanation of how the Tax Benefit Rule works and other instances where you should consider adding this money to your income, read this C.P.A. Insight.
Mortgage Forgiveness Income May Be Excludible From Taxable Income
Normally when debt is forgiven, the forgiven amount is considered taxable income for the person responsible for the debt. Recent tax law changes have made exceptions for qualified principal residence indebtedness. However, this is not necessarily a tax-free transaction–more likely tax-deferred. For more information on the rules surrounding mortgage forgiveness, read this C.P.A. Insight.
Baby Boomers—Are You Ready for Retirement?
With nearly 30% of the U.S. population expected to reach retirement age in the next 18 years, more resources will be required for them to live comfortably during retirement. It is imperative that proper plans and tools are set in place so that they can reach their retirement goals. For more information on the retirement of the baby boomer generation, read this C.P.A. Insight.
529 College Savings Plans
Regardless of income level, each Georgia taxpayer can now take up to a $2,000 deduction per return for contributions made on or after January 1, 2007 to Georgia-sponsored 529 Plans. Prepaid College Tuition Plans and College Savings Plans are the two types of 529 Plans available. For more information on 529 Plans and some of their rules and regulations, read this C.P.A. Insight