May 2015

pSo your friend was in a pinch and you thought they’d be good for it and they weren’t. It’s not all bad; you can lower your taxable income as a result.brbrMaybe you loaned money to a friend to help with a struggling situation.

pstrongGrandparents can help with college and lower taxable income./strongbrbrA grandparent helping their grandchild pay for college can be a win all around. When a grandparent that contributes to a 529 savings plan, it lowers assets within the grandparent’s estate.

pstrongReverse Mortgages are usually marketed in an appealing way.

pstrongTaxes get more complicated for most businesses than they do for individual taxpayers. And not knowing the laws applicable to you is not a justified reason to not comply.