Make an estate plan for your digital assets

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Today, 77 percent of Americans go online every day, according to a recent Pew Research Center survey, and most of us maintain at least some kind of digital data in the cloud. We save emails, post to social media, and store photos in online albums. All of this digital information has created a new issue […]

Saving for College – 529 Plans

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  The Economic Growth and Tax Relief Reconciliation Act of 2018 make 529 college savings plans more valuable than ever. Basically, a college savings plan allows you to place money in a state plan to be used for the beneficiary’s higher-education expenses at any college or university. These expenses include tuition, fees, books, supplies, and certain […]

Hobbies have new tax consequences

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Hobby-Related Loss Deductions Are Disallowed, but Don’t Give Up Hope Let’s say you have an unincorporated sideline activity that you think of as a business, including an activity involving horses. If you have a net loss (deductible expenses exceed revenue) on that activity and you think you can deduct that loss on your personal federal […]

Should divorcing couples sell their house?

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A side from child custody, the most emotionally charged issue in a divorce is usually who gets to keep the house. For most couples, a house is their most valuable asset, and it has enormous symbolic value as well. But while couples often fight over who gets the house, keeping the house isn’t always the […]