Georgia Rural Hospital Tax Credit and Qualified Education Expense Credit Under the New Tax Law

Prior to 2018, the financial benefit for Georgia taxpayers to utilize the Rural Hospital Tax Credit and the Qualified Education Expense Tax Credit accrued only to those who faced alternative minimum tax (AMT).  Georgia taxpayers who were not subject to AMT had the opportunity to direct the application of their state taxes to a specific [...]

Tax Planning Strategies Under the New Tax Law

The first sentence of our early November 2017 Astute Angle post read "It is November 8th, 2017 as this is written and there is no doubt that a lot will happen with the Tax Cuts and Jobs Act before the end of the year."  As expected, a lot did happen to the initial Tax Cuts [...]

Zero-Based Budgeting Applied to Personal Finance

If you have ever run a businesses or worked in corporate finance, you are likely familiar with the concept of zero-based budgeting (ZBB) as an alternative to traditional budgeting.  The traditional form of budgeting - and the one most commonly used in corporate America - uses the amount spent last year in each category (or [...]

Why Many Parents Should Reconsider Covering College-aged or Adult Children on their Health Insurance

Parents generally believe that the longer they can claim their children as dependents, the more tax savings they will accrue.  This is a misleading fallacy for most high-income families.  The reality is that most parents with more than $200,000 of annual income get zero tax benefit from their children and may continue to get limited [...]

The Tax Saving Opportunity of a Lifetime for Early Retirees

Like it or not, the Affordable Care Act will again rule the health insurance marketplace in 2018 regardless of what happens in Congress with tax legislation or whether the individual mandate holds up over the coming weeks.  Also like it or not, there has been a dramatic increase in insurance premiums from the onset of [...]

10 Tax Planning Strategies for the 2017 Tax Cuts and Jobs Act

It is November 8th, 2017 as this is written and there is no doubt that a lot will happen with the Tax Cuts and Jobs Act before the end of the year.  The current bill is being marked up by the House Ways and Means Committee and the Senate is due to release its own [...]

Turbulence Forecasting for Pilots and Financial Advisors

I'm learning to fly, but I ain't got wings I recently spoke with a pilot about how he obtains and handles the forecasts for in-flight turbulence in advance of a flight.  Before each flight, he gets a fairly precise report of weather along the route and something called a turbulence plot, which is based on [...]

Keeping Safe in an Unsafe World

You should assume that criminals have your private information – credit card numbers, date of birth, Social Security number, etc.  If they did not already have this data from hacks at Target, Home Depot, Yahoo, and other institutions, they almost assuredly have some of your private information following the Equifax breach.  “But wait,” you say, [...]

How A Negligent Rule of Thumb Causes Poor Divorce and Estate Planning Decisions

An important consideration in divorce and estate planning that often gets ignored, underappreciated, or just poorly evaluated is the relative comparison of different account types: tax free accounts, tax deferred accounts, and taxable accounts.  While many people tend to think of $100,000 as $100,000, the account type in which the money resides can make a [...]