In the 1970s, U.S. Savings Bonds were a popular savings tool. Grandparents purchased them to help pay for college for grandchildren. Many investors used them to build funds for retirement. The concept was simple and attractive, especially for risk-averse savers. At purchase, the buyer paid half of …
taxes
Loans to Friends and Family: Should You Charge Interest?
Lending to friends and relatives can be tricky, and not only because of the stress it can place on your relationships. There are tax issues involved as well. If you must lend money to someone close to you, here are some tips to do it right in the eyes of the tax code. Charge interest Yes, you …
The Fight for State Tax Dollars: Understanding “Domicile”
If you work remotely in a state different from where you reside, or you are thinking about changing your residence from one state to another, you may be at risk of a state tax conundrum. State tax collectors are highly motivated to make sure that their state receives as many tax dollars as possible. …
