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Beware of Phantom Income and the Tax It Brings Michael Smeriglio

Beware of Phantom Income and the Tax It Brings

Posted on July 9, 2018
in Michael Smeriglio, Taxes
by Michael Smeriglio

Article Published by: money.usnews.com Most investors understand how taxes apply to capital gains, dividends and interest. But those accustomed to mainstream assets like stocks, bonds and funds can be surprised when they get off the beaten path with Treasury inflation-protected securities, zero-coupon bonds, S corporations and...

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Save For Your Kid’s College While Planning For Retirement Michael Smeriglio

How To Save For Your Kid’s College While Planning For Retirement

Posted on July 9, 2018
in Finances, Michael Smeriglio
by Michael Smeriglio

Article Published by: huffingtonpost.com As a financial advisor, I often work with clients who are concerned about how they are going to fund both their children’s education and their own future retirement. While the balancing act of saving for college and retirement can be difficult, I always...

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Don't Let the Kiddie Tax Play Costly Games with You - Michael Sm

Don’t Let the Kiddie Tax Play Costly Games with You

Posted on July 3, 2018
in Michael Smeriglio, Taxes
by Michael Smeriglio

Article Published by: mjscpa.com It’s not uncommon for parents, grandparents and others to make financial gifts to minors and young adults. Perhaps you want to transfer some appreciated stock to a child or grandchild to start them on their journey toward successful wealth management. Or maybe...

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How to Protect Your Digital Funds From Hackers - Michael Smerigl

How to Protect Your Digital Funds From Hackers

Posted on July 3, 2018
in Finances, Michael Smeriglio
by Michael Smeriglio

Article Published by: money.usnews.com Millions of consumers are moving away from traditional banking methods and trading in cash and credit cards for more convenient digital payment alternatives. In fact, a 2016 survey on the rise of digital wallets conducted by Finder.com, a comparison platform and information service,...

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Investment Fee tax break IRA

This investment-fee tax break is gone. Here’s what it means for individual retirement accounts

Posted on June 27, 2018
in Michael Smeriglio, Taxes
by Michael Smeriglio

Article Published by: cnbc.com *The Tax Cuts and Jobs Act eliminated the deduction for investment expenses, starting in 2018. *Fees for investment costs were deductible as a miscellaneous itemized deduction, to the extent they and other costs exceeded 2 percent of your adjusted gross income. *To contend with...

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How Do I Determine My Net Worth? - Michael Smeriglio

How Do I Determine My Net Worth?

Posted on June 27, 2018
in Finances, Michael Smeriglio
by Michael Smeriglio

Article Published by: Time.com Essentially, your net worth is the value of what you own, minus what you owe. Or, as a formula: assets – liabilities = net worth An easy way to figure it out it is via an online calculator like the one at Bankrate.com. But...

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Earned Income Tax Credit for Certain Workers - Michael Smeriglio

Earned Income Tax Credit for Certain Workers

Posted on June 18, 2018
in Michael Smeriglio, Taxes
by Michael Smeriglio

Article Published by: mjscpa.com Millions of Americans forgo critical tax relief each year by failing to claim the Earned Income Tax Credit (EITC), a federal tax credit for individuals who work but do not earn high incomes. Taxpayers who qualify and claim the credit could pay...

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Americans are spending like mad again - Michael Smeriglio

Americans are spending like mad again

Posted on June 18, 2018
in Finances, Michael Smeriglio
by Michael Smeriglio

Article Published by: money.cnn Americans are spending. A lot. And not just on Amazon. Retail sales rose 0.8% in May, the government reported Thursday — much better than expected. Spending was up 5.9% from a year ago. And the gains were broad: Spending surged at clothing stores, at...

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TAS Advocates for Taxpayer Facing Economic Burden - Michael Smer

Success Story: TAS Advocates for Taxpayer Facing Economic Burden

Posted on June 12, 2018
in Michael Smeriglio, Taxes
by Michael Smeriglio

Article Published by: taxpayeradvocate.irs.gov Every year, the Taxpayer Advocate Service (TAS) helps thousands of people with tax problems. This story is only one of many examples of how TAS helps resolve taxpayer’s tax issues. All personal details are removed to protect the taxpayer’s privacy. A taxpayer under...

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Ways You Can Legally Quit Paying Student Loans - Michael Smerigl

8 Ways You Can Quit Paying Your Student Loans (Legally)

Posted on June 12, 2018
in Michael Smeriglio
by Michael Smeriglio

Article Published by: huffintonpost.com More than 40 million Americans have student loan debt. Of those borrowers, 5.6 million owe more than $50,000. That kind of crushing five-figure debt can take a real financial and mental toll. If you fantasize about running off to a foreign country or...

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Recent Posts

  • Beware of Phantom Income and the Tax It Brings
  • How To Save For Your Kid’s College While Planning For Retirement
  • Don’t Let the Kiddie Tax Play Costly Games with You
  • How to Protect Your Digital Funds From Hackers
  • This investment-fee tax break is gone. Here’s what it means for individual retirement accounts

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