A number of years ago, we authored this article explaining why higher income parents may be well served to gift appreciated investments to their children and then have the children use the proceeds to pay for college. The article further explained how taxpayers who faced alternative minimum tax (AMT) received no tax benefit from [...]
When qualified state tuition programs (QSTPs) were first introduced in 1996 and Section 529 was added to the Internal Revenue Code, the intent of Congress was to create a create a tax-friendly way for families to save for college costs. At that time, the law provided that any earnings in a QSTP would be tax [...]
An estimated 20 million Americans do not have access to Medicare, Medicaid, or employer provided insurance and will be left to purchase their own health insurance in 2019. If you’re among that 20 million, the news is relatively good. In most states, premiums next year will be relatively flat (or even down in some states), [...]
Last week, Georgia Governor Nathan Deal signed House Bill 769, expanding a Georgia tax credit that supports rural hospital organizations across Georgia. We explained the value of the rural hospital tax credit in this 2017 Astute Angle post but the recently expanded tax credit under HB 769 combined with provisions of the Tax Cuts and [...]
What do Arnold Schwarzenegger, Steven Tyler, Stevie Nicks, Billy Crystal, and my father all have in common? At least two things. They will, God willing, all celebrate their 70 1/2 birthdays in 2018 and join the ranks of approximately 25 million others in the United States over this age (assuming, of course, that they all [...]
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 [...]
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 [...]
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 [...]
