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Gray Hunter Stenn
Gray Hunter Stenn

October 17, 2017

Two ACA Taxes That May Apply To Your Exec Comp

If you’re an executive or other key employee, you might be rewarded for your contributions to your company’s success with compensation such as restricted stock, stock options or nonqualified deferred compensation (NQDC). Tax planning for these forms of “exec comp,” however, is generally more complicated than for salaries, bonuses and traditional employee benefits. And planning…More

October 10, 2017

Don’t Ignore The Oct. 16 Extended Filing Deadline Just Because You Can’t Pay Your Tax Bill

The extended deadline for filing 2016 individual federal income tax returns is October 16. If you extended your return and know you owe tax but can’t pay the bill, you may be wondering what to do next. File by October 16 First and foremost, file your return by October 16. Filing by the extended deadline…More

October 4, 2017

“Bunching” Medical Expenses Will Be A Tax-Smart Strategy For Many In 2017

Various limits apply to most tax deductions, and one type of limit is a “floor,” which means expenses are deductible only if they exceed that floor (typically a specific percentage of your income). One example is the medical expense deduction. Because it can be difficult to exceed the floor, a common strategy is to “bunch”…More

September 27, 2017

Investors: Beware of the Wash Sale Rule

A tried-and-true tax-saving strategy for investors is to sell assets at a loss to offset gains that have been realized during the year. So if you’ve cashed in some big gains this year, consider looking for unrealized losses in your portfolio and selling those investments before year-end to offset your gains. This can reduce your…More

September 21, 2017

Why You Should Boost Your 401(k) Contribution Rate Between Now and Year End

One important step to both reducing taxes and saving for retirement is to contribute to a tax-advantaged retirement plan. If your employer offers a 401(k) plan, contributing to that is likely your best first step. If you’re not already contributing the maximum allowed, consider increasing your contribution rate between now and year-end. Because of tax-deferred…More

September 20, 2017

Save More for College Through the Tax Advantages of a 529 Savings Plan

With kids back in school, it’s a good time for parents (and grandparents) to think about college funding. One option, which can be especially beneficial if the children in question still have many years until they’ll be starting their higher education, is a Section 529 plan. Tax-deferred compounding 529 plans are generally state-sponsored, and the…More

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