Home Equity Hassle

A key component of the TCJA is the expansion of the standard deduction. The numbers for 2018 are $24,000 (married couples filing jointly), $18,000 (heads of household), and $12,000 (all others). These amounts are almost double the respective standard deductions in 2017. However, personal exemptions were eliminated. As a give-and-take, […]


New Tax Deduction for Pass-Through Entities

Many small businesses are pass-through entities, including S corporations, partnerships, sole proprietorships, LLCs, and LLPs. The label indicates that all business earnings are passed through to the owners’ personal income tax returns. Thus, they avoid the corporate income tax. The TCJA contains a new tax benefit for pass-throughs. This provision […]


Tax Calendar: April and May 2018

APRIL 2018 April 17 Individuals. File a 2017 income tax return. If you want an automatic six-month extension of time to file the return, file Form 4868, “Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.” Then, file Form 1040, 1040A, or 1040EZ by October 15. […]


New Federal Law Puts Focus on Preventing Elder Abuse

A new federal law is designed to address the growing problem of elder abuse. The law supports efforts to better understand, prevent, and combat both financial and physical elder abuse. The prevalence of elder abuse is hard to calculate because it is underreported, but according to the National Council on Aging, […]


Report Finds Lack of Government Oversight of Assisted Living Facilities

The government is spending billions to fund assisted living services through Medicaid, but government oversight and regulation of assisted living facilities is lacking, according to a new government report. Medicaid funds long-term care services for low-income individuals. It is primarily used for nursing home care, but 48 states have opted to […]


Long-Term Care Insurer Cannot Be Sued for Elder Financial Abuse

Long-term care insurance policyholders suing Bankers Life and Casualty Company were dealt a blow by the Oregon Supreme Court when it ruled that the state’s elder financial abuse statute does not apply to their case. Residents of Oregon who bought long-term care insurance policies from Bankers Life and Casualty Company […]


A Guidebook to Planning for Old Age

Joy Loverde. Who Will Take Care of Me When I’m Old? Plan Now to Safeguard Your Health and Happiness in Old Age. New York, NY: Da Capo Press, 2017. 313 pages. Click here to order book via IndieBound.org Millions of Americans are facing old age essentially alone.  One in three baby boomers is […]


Weighing the Risks of Bond Funds

Most portfolio allocations call for a mix of stocks (equities) and bonds (fixed income). The underlying theory is that stocks may deliver substantial results over the long term, whereas bonds contribute interest income and lower volatility. As we’ve seen in recent years, stocks can be extremely risky but have recovered […]


Two Five-Year Tests for Roth IRAs

The pros and cons of Roth IRAs, which were introduced 20 years ago, are well understood. All money flowing into Roth IRAs is after-tax, so there is no upfront tax benefit. As a tradeoff, all qualified Roth IRA distributions can be tax-free, including the parts of the distributions that are […]


How Small Companies Can Address Harassment Issues

Politicians, journalists, and other celebrities are not the only ones vulnerable to charges of sexual harassment. As a business owner, you could be in the spotlight if allegations of improper behavior arise, especially if they are brought by one or more employees. Even if your own conduct has been beyond […]