Money Management Articles
Wills & Estate Planning
Putting miscellaneous deductions to work
Now that you're just about ready to file your tax return, are you sure
you claimed all the deductions that you're due? Most Americans know that
they can deduct items such as charitable donations, mortgage interest
and property taxes.
Minnesota's new gift tax sparks questions for taxpayers
As part of a campaign to educate taxpayers on confusing, challenging and
emerging tax issues, the Minnesota Society of Certified Public
Accountants (MNCPA) offers filers important reminders and considerations
related to Minnesota's new state gift tax.
Minnesota's residency laws throw 'snowbirds' for a loop
Determining residency for tax purposes often proves challenging for
Minnesota's population of "snowbirds" (retired individuals who head
south each winter).
Your tax return: What could go wrong?
Every year taxpayers make mistakes on their tax returns that range from
silly to serious. What kinds of errors should you keep in mind as you
get ready to file this year's return? The Minnesota Society of CPAs
highlights three common missteps to avoid.
'Tis the season for charitable contributions
Along with an avalanche of catalogues and holiday greetings from family
and friends, you may also find your mailbox inundated with donation
requests from charitable organizations.
Protecting seniors from fraud: Tips for safeguarding identity and finances
Every September, we honor our grandparents with National Grandparents
Day. As this holiday approaches, now is the perfect time to show your
loved ones how much you care by helping them learn to protect themselves
from becoming victims of fraud.
Financial planning for same-sex couples after the DOMA decision
In June, the U.S. Supreme Court declared the Defense of Marriage Act
unconstitutional, a decision that has sweeping financial implications
for same-sex couples who were married in states that recognize same-sex
Tax tips for newlyweds
June is traditionally a time when couples tie the knot and, as is the
case with so many major milestones in life, all newlyweds should be
aware of the tax considerations associated with marriage. If you or a
loved one is planning nuptials, the Minnesota Society of CPAs offers
this advice on addressing the tax concerns.
Giving the gift of financial planning: A lifetime of financial knowledge wrapped up with a bow
June means longer days, the start of summer and invitations to weddings,
graduation parties and maybe a baby shower or two. Stuck for ideas on
what to give the newlyweds, graduates or new parents? This year,
consider something nontraditional that will last a lifetime and never go
out of style: a visit with a financial planner.
Retaining personal financial records: What do you need to keep and for how long?
Does looking at overflowing filing cabinets of bank statements and boxes
of old check stubs make you want to start a bonfire in your backyard?
Before you grab the lighter fluid and matches, make sure you know what
you can torch and what you need to keep.
How to talk to your aging parents about money
It’s important for adult children to know about and understand their parents’ finances. From knowing if your parents have enough money to last through their retirement, to understanding their wishes should they become incapacitated, to protecting them from unscrupulous people who prey on the elderly, your involvement may be vitally important. This information will help you get started.
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