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Disabled Family Members May Be Able To Benefit From ABLE Accounts

by Sioban Kiley | Aug 17, 2023

Family members often want to help disabled loved ones financially but don’t want them to lose eligibility for their government benefits. A tax-advantaged ABLE account may be the answer.

Can You Deduct Student Loan Interest On Your Tax Return?

by Sioban Kiley | Aug 10, 2023

If you are resuming student loan payments soon, be aware that interest is deductible for some borrowers subject to certain limits. Here are the rules.

Pocket A Tax Break For Making Energy-Efficient Home Improvements

by Sioban Kiley | Aug 3, 2023

Have you heard there’s an enhanced tax credit for making energy-efficient home improvements, beginning this year? Here are the rules.

A Tax-Smart Way To Develop And Sell Appreciated Land

by Sioban Kiley | Jul 27, 2023

There may be a way to reduce a large tax bill if you own appreciated land that you want to subdivide and develop for sale. Here’s a three-step strategy.

Retirement Account Catch-up Contributions Can Add Up

by Sioban Kiley | Jul 20, 2023

If you’re eligible and not making catch-up contributions to your retirement plan, you’re missing out on building more tax-favored savings. Here are the rules of the road.

Inheriting Stock Or Other Assets? You’ll Receive A Favorable “Stepped-Up Basis”

by Sioban Kiley | Jul 13, 2023

When planning your estate or inheriting assets, it’s essential to understand the “step-up” basis rules. They can affect the taxes due on the sale of the assets.

That Email Or Text From The IRS: It’s A Scam!

by Sioban Kiley | Jul 7, 2023

Criminals keep coming up with new ways to try and steal information from taxpayers. Here are a few of their scams and how you can avoid them.

The Trust Fund Recovery Penalty: Who Can It Be Personally Assessed Against?

by Sioban Kiley | Jun 29, 2023

The Trust Fund Recovery Penalty is personally imposed on certain business owners and managers when employment taxes aren’t paid to the government. Here are the rules, along with two cases where individuals were held liable for the harsh penalty.

Are You Married And Not Earning Compensation? You May Be Able To Put Money In An IRA

by Sioban Kiley | Jun 22, 2023

If you’re married and don’t earn compensation, you may think you can’t contribute to a retirement plan. But you may be eligible for a spousal IRA. Here are the rules for 2023.

Are you married and not earning compensation? You may be able to put money in an IRA

by Sioban Kiley | Jun 20, 2023

If you’re married and don’t earn compensation, you may think you can’t contribute to a retirement plan. But you may be eligible for a spousal IRA. Here are the rules for 2023.

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DISCLAIMER: MidAtlantic IRA, LLC. does not render tax, legal, accounting, investment or other professional advice. If tax, legal, accounting, investment or other similar expert assistance is required, the services of a competent professional should be sought.

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