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Author Archives: Henssler Financial

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Retirement Savings Contributions Credit

TaxBy Henssler FinancialFebruary 7, 2013

Low-and moderate income workers who contributed to a retirement plan, such as an IRA or 401(k), may be able to take the savers credit.

Is winter storm damage covered by my homeowners insurance policy?

Blog, InsuranceBy Henssler FinancialFebruary 7, 2013

Did your home’s pipes burst after a hard freeze? Winter storm damage may or may not be covered on your homeowner’s policy. Read more in this Insurance Tip.

Relief for the Travel and Entertainment Headache

TaxBy Henssler FinancialFebruary 6, 2013

Deducting travel and business expenses can be hard to keep up with. Luckily, the IRS will allow you to deduct unreimbursed expenses on a per-diem method.

Tax Freedom Day

TaxBy Henssler FinancialFebruary 6, 2013

Ever wonder how many days in a year you have to work to fulfill your income tax obligation? Wonder no more.

Social Security Benefits and Potential Tax on Benefits

TaxBy Henssler FinancialFebruary 6, 2013

Social Security has transformed many times since 1935 becoming more than just continuing income for the retired worker.

Property Acquired by Gift or Through an Estate

TaxBy Henssler FinancialFebruary 6, 2013

The recipient of a gift or a bequest pays no gift or estate tax. If taxes are due, they payable by the donor (the person making the gift) or the estate in the case of a decedent.

Long-Term Care Insurance—Is it for You?

Insurance, TaxBy Henssler FinancialFebruary 6, 2013

Long-term care can be very expensive. Long-term care insurance can help preserve assets rather than using your wealth for your medical expenses.

Election to Expense Business Assets—Section 179 Depreciation

TaxBy Henssler FinancialFebruary 6, 2013

The Section 179 election makes it easier for small and medium-sized businesses to purchase new business equipment.

Tax Planning—Your Kids, Their Money

TaxBy Henssler FinancialFebruary 6, 2013

Dependent children may have to pay taxes too if their earned or unearned income exceeds a certain limit. Under certain circumstances, it can be reported on the parents’ return rather than their own.

Do Not Base Investment Decisions on Tax Laws

TaxBy Henssler FinancialFebruary 6, 2013

The adage tells us only death and taxes are certain, but we feel tax law changes are a certainty as well. Investment decisions made based solely on tax laws might not be the best decision.

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