5 Little-Known Tax Deductions and Credits You Don’t Want to Miss — The Motley Fool

  Tax deductions and credits reduce the amount you owe the government, possibly resulting in a larger tax refund or a smaller tax bill. You don’t want to leave any money on the table, and careful planning combined with studying up on deductions and credits can help you file your taxes in the most optimal way.   Most people know that contributions to tax-deferred retirement accounts or a health savings account (HSA) will reduce your taxable income for the year, but … Continued

One twin born to same-sex parents was declared a citizen, the other was not; judge disagrees

  A twin son born abroad to two married men—one a U.S. citizen and the other Israeli—is a U.S. citizen even though he was conceived with the sperm of the Israeli parent, a federal judge has ruled. U.S. District Judge John Walter of Los Angeles said the child, Ethan, was a U.S. citizen at his birth in September 2016, just like his twin brother, Aiden, who was conceived with the sperm of the U.S. parent. The Washington Post, the Associated … Continued

WSJ Tax Guide 2019: Estate and Gift Taxes – WSJ

  The overhaul doubled the estate- and gift-tax exemption, which is a combined amount that applies to an individual’s gifts made during life or assets left at death. For 2018, the limit rose to $11.18 million per individual and $22.36 million per married couple. For 2019, an inflation adjustment lifts it to $11.4 million per individual and $22.8 million per couple. This increase in the exemption is set to lapse after 2025. In November 2018, the Treasury Department and the … Continued

IMPORTANT UPDATE ABOUT NEW MEDICARE CARDS

Good news: We’ve finished mailing new Medicare cards across the country! You should’ve received your new card by now.  Here’s what to do next: Carry and use your new Medicare card when you need care. Protect your Medicare Number and card, just like you would protect your credit card. Destroy your old Medicare card to help protect your identity. Haven’t gotten your new Medicare card yet? Sign in to your secure MyMedicare.gov account to see your Medicare Number and print … Continued