Two things in life are certain – death and taxes. Here’s what to do if the two are combined as far as filing a tax return.

Tax Returns for the Deceased

If a person dies, their finances are immediately converted into something called an estate. The estate is then responsible for filing a tax return covering the finances including income and distributions to heirs and beneficiaries. However, a final personal tax return must still be filed for the deceased. (more…)

Recent statistics show Americans are simply not saving money for the future. To encourage savings, the government has created tax incentives.

Tax incentives to save for education

American higher education is an expensive proposition. If you have a son in college, I hardly need to tell you this. While every parent is proud of a child pursuing education, the glorious event can make for some sleepless night thinking about how to pay for it. If you have small children, the government has taken measures to make saving attractive for college from a fiscal perspective (more…)