Ken Berry is a nationally-known writer and editor specializing in tax, financial and retirement planning issues. During his long career, he has served as managing editor of a publisher of content-based marketing tools and vice president of an online continuing education company. As a freelance writer, Ken has authored thousands of articles for a wide variety of newsletters, magazines and other periodicals.
All the talk about health care reform may have you thinking: How can you pay for ever-rising medical expenses when you’re no longer working? Even a sizable...
A family limited partnership (FLP) may be used to protect business interests from creditors. Assuming no ready market for the shares transferred to the FLP, the value...
As an owner of the company, you’re probably entitled to your fair share of perks (p’s) and qualified benefits (q’s). Generally, the perks you receive,...
Have you been setting aside funds in a Section 529 plan for your child’s college education? If your child has entered school, you can withdraw the funds tax-free...
If you missed out on the popular cash-for-clunkers program this summer, you can still qualify for big tax benefits for an older vehicle by donating your...
Suppose your employees regularly incur business expenses that are not reimbursed by your company. For example, they might personally pay for business travel or tools. If...
The rules for home-office deductions are particularly tough for corporate employees. Even if you legitimately use a home office for business purposes, you may not be...
If you're thinking of investing in gold, do it inside your retirement plan. As opposed to the maximum federal tax rate of 15% on most other long-term gains, the maximum...
Now that you’ve put your 2008 tax return to bed, you were probably hoping to rest for a while. But no such luck: You discover that you made an error on your tax...
The new economic stimulus law provides special relief for some small business owners. It allows you to carry back net operating losses (NOLs) for up to five years...
It’s a common mistake: You might overpay the Social Security tax due to a change in jobs, self-employment or other circumstances. Worst of all, overpayments...
Undoubtedly, you want to make things as easy as possible on your heirs, from both a financial and emotional standpoint. Strategy: Investigate the idea of using a...
You can choose between two main types of charitable lead trusts (CLTs): nongrantor (or nonreversionary) trusts and grantor trusts. Which one should you use? It depends...
Instead of discarding old items, you might try to sell them on eBay or
similar Web sites. Do you face any tax consequences with these types of sales? Maybe.
Usually, you have to pay a 10% penalty tax — on top of the regular federal income tax you owe — if you withdraw money from a traditional IRA before age...
We don’t have to tell you about the skyrocketing cost of gasoline. But you might need a reminder about the tax rules for business travel. Generally, you...
