Lower My Tax Now Blog
Give a gift that will last a lifetime
Posted in Tax-Blog. Bookmark the permalink. | , December 10, 2015 | 0 Comments
Financial gifts that you give to your loved ones can provide benefits for many years to come. So here are 4 options that you need to consider:
● First one, fund an IRA. You can give your kids or grandkids an early start on a comfortable retirement. How? For 2015, you…
Seek liquidity for short-term investments
Posted in Tax-Blog. Bookmark the permalink. | , November 25, 2015 | 0 Comments
Hi guys, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.com
The stock market may not be the right place for all of your money at all times. Here are two situations when cash accounts can be a better solution.
#1. Usually, the stock market is not a good place to…
Make use of your 2015 gift tax exclusion
Posted in Tax-Blog. Bookmark the permalink. | , November 18, 2015 | 0 Comments
Hi guys, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.com
This year you can give up to $14,000 to as many persons as you want without any gift tax liability. If you’re married and your spouse joins in the gift, you can, as a couple, elect to give $28,000…
Need money to pay bills? Raiding your 401(k) is not a good idea
Posted in Tax-Blog. Bookmark the permalink. | , November 11, 2015 | 0 Comments
Hi guys, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.com
When you’re short of cash, raiding your 401(k) plan is NOT a good idea. Here are two reasons why.
Penalties and taxes. If you’re under 59½ years old, you’ll be hit with a 10% early withdrawal penalty. There are some…
