Family and Taxes

The Latest

  • February 28, 2013

    When you receive a windfall — whether it’s an inheritance from a relative, winnings from the lottery or gambling, or proceeds from a legal settlement — you may be...

  • February 26, 2013

    NEW YORK (MainStreet) — If you are paying alimony you may be able to claim an “above-the-line” deduction on your 2012 Form 1040. To be deductible alimony payments must be in cash (or check)...

  • February 6, 2013

    Employers are getting smarter about how they run retirement plans. They are making some moves that are good for younger workers, including automatically enrolling new employees in 401(k) plans and defaulting their savings into target-date funds,...

  • February 5, 2013

    NEW YORK (MainStreet) — There is a special “loophole” in the Tax Code that allows one spouse in a married couple who file separate returns to file as “Married Filing Separate” and the other...

  • February 4, 2013

    Married couples have the option to file a joint return or file separately. Generally it is better to file a joint return. Separate filings usually result in the same or greater combined tax liability. But in some cases it may pay to file...

  • January 10, 2013

    Even with Congress and President Obama reaching an 11th-hour deal to prevent the country from going over the much-hyped “Fiscal Cliff,” the New Year has brought an increase in taxes for all American families — and for many that means an almost...