Tuesday August 16, 2022
News
Planning with a Serious Illness
If at some point in life you have a serious illness, there are a number of planning options that should be considered.
With a serious illness, there are emotional, physical and mental challenges. The illness may be primarily physical, but the person will eventually start to suffer discouragement and even depression. His or her mental capabilities may also start to fail due to deterioration of the body.
Given these serious issues, it is important to consider the care of the person, care of his or her property, financial decisions, potential...MORE
Back-To-School Teacher Deduction
As teachers and students prepare to return to school this fall, the Internal Revenue Service reminded educators of the increased expense deduction available in 2022. In IR-2022-148, the IRS noted, "As the new school year begins, the Internal Revenue Service reminds teachers and other educators that they will be able to deduct up to $300 of out-of-pocket classroom expenses for 2022 when they file their federal income tax return next year."
The educator expense deduction had been $250 for tax years from 2002 through 2021. However, it is now going to increase in $50 increments based on inflation. As a result, an educator in 2022 may deduct up to $300 of qualifying expenses. If two educators are married, the...MORE
Choosing an Active Adult Community
What tips can you recommend for choosing a good active adult housing community? My husband and I, who recently retired, are planning to relocate to an area closer to our grandkids and are interested...MORE
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