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Tax Planning Tips: Life Insurance

October 13, 2015

Understanding the importance of life insurance is one thing. Understanding the tax rules is quite another. As insurance products have evolved and become more sophisticated, the line separating insurance vehicles from investment vehicles has grown blurry. To differentiate between the two, a mix of complex rules and exceptions now governs the taxation of insurance products.…

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Key Numbers Projected for 2016

September 30, 2015

Exemptions 2015 Projected for 2016 Personal and dependency $4,000 $4,050 Phaseout threshold (applies to itemized deductions as well) Married filing jointly $309,900 $311,300 Head of household $284,050 $285,350 Single $258,250 $259,400 Married filing separately $154,950 $155,650 Standard deduction 2015 Projected for 2016 Married filing jointly $12,600 $12,600 Head of household $9,250 $9,300 Single $6,300 $6,300…

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The Benefits of Tax-Advantaged Savings Vehicles

June 24, 2015

Taxes can take a big bite out of your total investment returns, so it’s helpful to look for tax-advantaged strategies when building a portfolio. But keep in mind that investment decisions shouldn’t be driven solely by tax considerations; other factors to consider include the potential risk, the expected rate of return, and the quality of…

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Top Year-End Investment Tips

October 8, 2014

Just what you need, right? One more time-consuming task to be taken care of between now and the end of the year. But taking a little time out from the holiday chores to make some strategic saving and investing decisions before December 31 can affect not only your long-term ability to meet your financial goals…

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April 30, 2014

Volunteer Tax Assistance, Outreach Programs and Identity Theft The IRS sponsors volunteer assistance programs and offers help to taxpayers in many community locations. The Volunteer Income Tax Assistance Program (VITA) offers free tax help by trained volunteers to low to moderate-income taxpayers. VITA sites are locally available at community locations, and provide free basic income…

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Viridian Tax and Accounting Shows Its 12th Man Pride

February 7, 2014

Viridian Sends Its Congratulations to the Superbowl Champion Seattle Seahawks! Viridian Tax and Accounting is proud to support our Seattle Seahawks in their World Championship win over the Denver Broncos. Viridian is proud to have many long term clients and employees who are die hard Hawks fans. Just as the Seattle Seahawks start their new…

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Frequently Asked Questions – What is the Kiddie Tax?

June 25, 2012
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  Question: What is the Kiddie Tax? Answer: Special rules commonly referred to as the “kiddie tax” rules apply when a child has unearned income (for example, investment income). Children subject to the kiddie tax are generally taxed at their parents’ tax rate on any unearned income over a certain amount. Currently, this amount is…

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Medicare Tax on Investment Income

June 20, 2012
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  Beginning in 2013, high-income individuals may be subject to a new 3.8% Medicare contribution tax on some or all of their unearned income. For more information, click the link to the video below: Medicare Tax on Investment Income   *image used courtesy of stock.xchng

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Liquor Before Beer, In the Clear

June 6, 2012

“Beer before Liquor, never sicker” I think that’s how the whole saying went.   The harder alcohol is always consumed before the lower volume alcohol in order to keep your stomach in check.  Honestly I don’t know if there is any truth to this, but could it relate to future tax hikes on our beer?  Now that we…

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