If you are one of the lucky ones, growing up, Mom always looked out for you, offered you advice, and was there for you in good times and in bad. This Mother’s Day, it’s time to look out for your mom or another mom you love by offering financial education that can help her, both now and into her future. You may have picked up your current beliefs about money from someone in your family growing up.Read More
Savant offers perspective on a variety of topics. Entries range from current events to timeless insights in the world of finance and investments.
Yes, that is Pease, not peace.
Donald Pease was a Congressman from Ohio who inserted a “stealth tax” into the Omnibus Reconciliation Act of 1990. The purpose of this Pease limitation was to raise revenue by limiting itemized deductions for high income earners.Read More
You may have heard that the Tax Cuts and Jobs Act raised the shared Federal Estate Tax Exemption level to over $22 million for a married couple. It is estimated that this increase will reduce the number of estates subject to Federal Estate Tax in 2018 from 5,500 to only 1,700, which represents approximately only 0.1% of the estates to be filed in 2018.Read More
On Saturday Night Live in the late 1970s, Gilda Radner did a series of comedic vignettes as Roseanne Roseannadanna, who gave rambling answers to viewer questions. At some point in each one, she would say, “Well, Jane, it just goes to show you, it’s always something — if it ain’t one thing, it’s another.”Read More
The tax on a child’s investment and other unearned income (i.e. the Kiddie Tax) has gone through some major changes with the passing of the Tax Cuts and Jobs Act (TCJA). This article will provide guidance on how the changes may affect you.
The Kiddie Tax is the method of taxing and reporting unearned income of certain children.Read More