Health savings accounts (HSAs) were created as a tax-favored framework to provide health care benefits mainly for small business owners, the self-employed, and employees of small- to medium-sized companies who do not have access to health insurance.
Deferring Taxable Gain with a Like-kind
Nontaxable exchanges of real estate give taxpayers an alternative to taxable dispositions and can provide federal income tax benefits.
Taxpayers turning age 70 1/2 during 2012 are required to take their first minimum required distribution (MRD) from a traditional IRA by April 1, 2013.
Kiddie Tax Update
In the good old days, highly taxed parents could shelter some of their investment income by attributing it to their lower taxed older children. No more.