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Recently when I visited my parents, I noticed a large pile of papers in the kitchen, all with a similar message: “We can help you with Medicare.” My dad turns 65 this year and it appeared a bunch of strangers knew this. Like my dad, many Americans reaching elder status put off making decisions about…

Most parents with the ability to give money to their adult children plan to do just that. But it’s not only the tax implications of gifting that parents must consider before writing a check or creating a trust. The timing, amount and method of gifting to adult children can have long-term effects on a family’s…

It has been a painful year to be an investor. So far in 2022, the S&P 500 is down about 15% while U.S. Investment Grade bonds are down about 17%. Some individual sectors and companies have performed even worse. While it’s never fun to see your account balances decline, market downturns can provide tax-saving opportunities…

Taxes may be an inevitable part of life, but most people would probably rather not hand over a portion of their earnings to the government. “Tax bills can ruin your day,” opines Craig Ferrantino, president of Craig James Financial Services in Melville, New York. Fortunately, there are a number of completely legal ways to lower…

A health savings account can be used to pay for more than doctor visits and prescription drugs. Learn about these HSA-qualified expenses. Anyone with a qualified high-deductible health insurance plan can open a health savings account, also known as an HSA. Money deposited into these accounts is tax-deductible and can be used tax-free to pay for eligible medical…

Recently, a family friend experienced a freak accident. Unfortunately, they were without health insurance. As we created a GoFundMe page to help cope with the avalanche of medical bills, I thought it would be helpful to share what options are available for anyone else that finds themselves in a similar situation.