Personal Finances

Day Trader Status

Posted on

Tax impact of investor vs. trader status If you invest, whether you’re considered an investor or a trader can have a significant impact on your tax bill. Do you know the difference? Investors Most people who trade stocks are classified as investors for tax purposes. This means any net gains are treated as capital gains […]

Colorado Tax and Accounting Consultation

Higher medical costs = Fewer Malpractice Claims

Posted on

Defensive medicine is widely practiced in the United States and bears a direct coorelation to lower malpractice claims. Physcians reporting the practice of  “defensive medicine” — care provided solely to reduce the threat of malpractice liability — have significantly lower malpractice claims. In Massachusetts, for example, greater than 80% of physicians reported practicing defensive medicine, which consists, […]

Estate Tax

Review your powers of attorney at least every 5 years

Posted on

Powers of attorney are critical components of an effective estate plan. After you’ve executed powers of attorney, it’s important to review them periodically — at least every five years and preferably more frequently — and consider executing new ones. 2 types A sound estate plan should include two types of powers of attorney: Financial power […]

Bookkeeping

Keeping your records

Posted on

Summer is a good time to start your 2017 tax planning and organize your tax records You may be tempted to forget all about taxes during summertime, when “the livin’ is easy,” as the Gershwin song goes. But if you start your tax planning now, you may avoid an unpleasant tax surprise when you file […]

Personal Finances

Security and Finances Part 1

Posted on

Financial Security. I’m not talking about Financial Security the way we generally are used to hearing about it as in retirement and investments. Instead I would like to discuss security in terms of hackers stealing your information, or your credit card being copied when you go out to dinner. These are just a few of […]