The Importance of Proper Insurance Coverage
May 18, 2016 Knowledge Center
The Importance of Proper Insurance Coverage

When creating a comprehensive financial plan, many customers overlook the importance of insurance coverage. Insurance is fallback protection, a safety net against the unexpected costs of accidents, illness, disability or disaster. Miller Kaplan guides clients in obtaining the ideal, comprehensive insurance coverage they need. These are the contingencies and considerations we evaluate with our clients […]

Putting Your Home On the Market? Understand the Tax Consequences of a Sale
May 11, 2016 Knowledge Center
Putting Your Home On the Market? Understand the Tax Consequences of a Sale

As the school year draws to a close and the days lengthen, you may be one of the many homeowners who are getting ready to put their home on the market. After all, in many locales, summer is the best time of year to sell a home. But it’s important to think not only about […]

Tax Benefits from Investing in QSB Stocks
May 4, 2016 Knowledge Center
Tax Benefits from Investing in QSB Stocks

By investing in qualified small business stock (QSB), you can diversify your portfolio and enjoy two valuable tax benefits: Tax-Free Gain Rollovers. If within 60 days of selling QSB stock you buy other QSB stock with the proceeds, you can defer the tax on your capital gains until you dispose of the new stock. The […]

Why it’s Time to Start Tax Planning for 2016
April 25, 2016 Knowledge Center
Why it’s Time to Start Tax Planning for 2016

Now that the April 18 income tax filing deadline has passed, it may be tempting to set aside any thought of taxes until year end. But don’t succumb. For maximum tax savings, now is the time to start tax planning for 2016. Don’t Leave Tax Planning for the End of the Year. A tremendous number […]

Filing for a Tax Extension isn’t Without Perils
April 12, 2016 Knowledge Center
Filing for a Tax Extension isn’t Without Perils

Yes, the federal income tax filing deadline is slightly later than usual this year – April 18 — but it’s now nearly upon us. So, if you haven’t filed your federal income tax return yet, you may be thinking about an extension. When are the tax extension deadlines? Filing for a tax extension allows you […]

Entrepreneurs: What Can You Deduct From Your Taxes?
March 30, 2016 Knowledge Center
Entrepreneurs: What Can You Deduct From Your Taxes?

Starting a new business is an exciting time. But before you even open the doors, you generally have to spend a lot of money. You may have to train workers and pay for rent, utilities, marketing and more. Entrepreneurs are often unaware that many expenses incurred by start-ups can’t be deducted right away. How Expenses […]

3 Income-Tax-Smart Gifting Strategies
March 16, 2016 Knowledge Center
3 Income-Tax-Smart Gifting Strategies

If your 2015 tax liability is higher than you’d hoped and you’re ready to transfer some assets to your loved ones, now may be the time to get started. Giving away taxable assets will, of course, help reduce the size of your taxable estate. But with income-tax-smart gifting strategies, it also can reduce your income […]

Make a 2015 Contribution to an IRA Before Time Runs Out
March 10, 2016 Knowledge Center
Make a 2015 Contribution to an IRA Before Time Runs Out

Tax-advantaged retirement plans allow your money to grow tax-deferred – or, in the case of Roth accounts, tax-free. But your annual IRA contributions are limited by tax law. That means any unused limit can’t be carried forward to make larger IRA contributions in future years. So it’s a good idea to use up as much […]

LPTV Operators Face Uncertainty After March 29 Spectrum Auction
March 7, 2016 Knowledge Center
LPTV Operators Face Uncertainty After March 29 Spectrum Auction

In 1982 the Federal Communications Commission (FCC), the chief regulator of American television, radio, satellite and other forms of telecommunication, created Low Power Television (LPTV). The purpose of LPTV was to provide local-oriented programming for smaller communities. 2,450 LPTV stations were created and licensed primarily to educational, religious and governmental entities. Entrepreneurs have had difficulty […]

2 Benefits-Related Tax Credits for Small Businesses
March 2, 2016 Knowledge Center
2 Benefits-Related Tax Credits for Small Businesses

Tax credits reduce your tax liability dollar-for-dollar, making them particularly valuable. Two valuable tax credits for small businesses also offer certain employee benefits. Can you claim one — or both — of them on your 2015 tax return? Retirement Plan Credit Small employers (generally those with 100 or fewer employees) that create a retirement plan […]

What Types of Charitable Donations Can Be Claimed For Tax Deductions?
February 25, 2016 Knowledge Center
What Types of Charitable Donations Can Be Claimed For Tax Deductions?

When it comes to deducting charitable gifts from your 2015 taxes, all donations are not created equal. As you file your 2015 tax return and plan your charitable giving for 2016, it’s important to keep in mind the available tax deductions. Common charitable donations that can be claimed for tax deductions include: Cash. This includes […]

How to Max Out Education Tax Breaks
February 22, 2016 Knowledge Center
How to Max Out Education Tax Breaks

If there was a college student in your family last year, you may be eligible for some valuable tax breaks on your 2015 tax return. To max out your education tax breaks, you’ll need to determine which ones you’re eligible for and then claim the one(s) that will provide the greatest benefit. In most cases […]