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Tax Preparation Checklist: Lessons from Your 2017 Tax Return

By Robert Pagliarini on April 13, 2018

The latest contribution to the CFP Board’s blog offers insights into the lessons we can learn from our 2017 tax return. While we have all our tax forms and documents handy, this is the perfect time to analyze last year’s finances and prepare for the big changes that will occur in the years to…

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How Are Rental Properties Taxed?

By Robert Pagliarini on April 9, 2017

Buying or selling income property has definite tax consequences. A taxpayer should clearly understand them, whether he or she intends to acquire a property or put one on the market. A sale of income property incurs either a capital gain or loss. If you profit from the sale of income property, that profit is considered…

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Tax Season Tips: Deductions That Can Put Money Back in Your Pocket

By Robert Pagliarini on March 24, 2017

As tax day quickly approaches, Americans are compiling their W-2s, 1099s and charitable contribution receipts. Though many may be looking forward to receiving a refund, others are likely to discover they owe more. In the latest contribution to, CFP Board offers six tips to help reduce your tax bill to make this season a little…

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Tax Issues & 529 College Savings Accounts

By Robert Pagliarini on March 16, 2016

Do you have a 529 plan account? Then you will want to know about a pair of federal tax law changes which may benefit you and your student, one involving a February 16 deadline. As 2015 ended, Congress passed the Protecting Americans from Tax Hikes Act (PATH). Deep in its fine print were two “sweeteners”…

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What Is An IRA Charitable Rollover?

By Robert Pagliarini on February 18, 2016

Have you ever wanted to make a major charitable gift? Would you like a significant federal tax break in acknowledgment of that gift? If so, an IRA charitable rollover may be a good financial step to take. If you are age 70½ or older and have one or more traditional IRAs, you may want to…

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Should You File Jointly or Single?

By Robert Pagliarini on February 17, 2016

Ninety-five percent of married couples file joint federal tax returns. Filing jointly can be convenient. Frequently, there’s a financial advantage, but that does not mean it should be done without consideration. Years ago, there was less incentive to file jointly. That was because the “marriage penalty” for doing so was effectively greater. There is no…

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Year-End Financial Planning and Tax Planning

By Robert Pagliarini on October 22, 2015

The end of a year makes us think about last-minute things we need to address and good habits we want to start keeping. To that end, here are seven aspects of your financial life to think about as this year leads into the next… Your investments. Review your approach to investing and make sure it…

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Worried About a Tax Audit? Here are the IRS Audit Red Flags

By Robert Pagliarini on August 18, 2015

Are you worried about being audited? The fear may be overblown as only 0.86% of taxpayers had their federal returns examined in 2014. Last year, 7.5% of millionaires had their returns scrutinized. Much of this is down to low staffing at the IRS. In 2011, during more prosperous times for the agency, the IRS audited…

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What To Do With Your Tax Refund

By Robert Pagliarini on April 23, 2015

Should your refund be spent? In 2014, more than 109 million tax filers received federal tax refunds, with the average refund at $2,792. What happens to that money? According to H&R Block’s Tax Institute, little of it is saved or invested: last year, more people used their refunds to settle debts or pay for cars…

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Top Tax Frauds to Watch Out For

By Robert Pagliarini on March 14, 2015

Have you heard of the “dirty dozen?” Each year, the IRS lists the top 12 recurring federal tax offenses – frauds, cheats, feints and schemes that ethically challenged taxpayers, tax preparers and crooks try to perpetrate. Watch for these scams in all seasons, not just tax season. Identity theft. Casually discarded or displayed personal information…

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