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2015 Year-End Tax Planning Strategies

July 21, 2014 by changescapeweb

With the economy still in the doldrums, 2012 has not been the greatest year for most individuals. Unemployment remains high, incomes are lower, retirement savings have declined, and many taxpayers are struggling to make ends meet. The government has provided a variety of tax incentives to help weather the economic storm, and you are urged […]

Filed Under: Newsletters

Q/A: Divorce Wife Gets Home

July 21, 2014 by changescapeweb

Q – My wife and I are getting a divorce. As part of the property settlement, she will be keeping our home. What are the possible tax consequences that may arise? A – When property is divided in a divorce, there are no immediate tax consequences. Therefore, the transfer of your interest in the home to your […]

Filed Under: Newsletters

Q/A: Family Bad Debt

July 21, 2014 by changescapeweb

Q – A few years ago, my brother got himself into financial difficulties and I loaned him $10,000. He has been unable to pay me back, and I have decided to forgive the loan and write it off when I file my taxes. How do I report the loss on my tax return? A – Non-business bad […]

Filed Under: Newsletters

Take Advantage of the IRA-to-Charity Transfer

July 21, 2014 by changescapeweb

For 2013, if you are age 70½ and over, you are allowed to make direct distributions (up to $100,000) from your Traditional or Roth IRA account to a charity. The distribution is tax free, but there is no charitable deduction, and the distribution can count toward your required minimum distribution (RMD). This provision can be […]

Filed Under: Newsletters

Are You Ready For Mandatory Health Insurance in 2015?

July 21, 2014 by changescapeweb

Beginning in 2014, the Patient Protection & Affordable Care Act imposes the new requirement that US persons, with certain exceptions, have minimal essential health care insurance. A penalty, payable with the individual’s income tax return, may apply to those who don’t have the required health care coverage. A minimum essential health care policy is one […]

Filed Under: Newsletters

Avoid Home Cancellation of Debt Income

July 21, 2014 by changescapeweb

When a taxpayer settles a debt for less than its full amount, the forgiven amount of the debt is taxable, unless the taxpayer qualifies for one of two currently available exclusions. With the downturn in the economy and the accompanying drop in home prices that occurred in recent years, many taxpayers are unable to keep […]

Filed Under: Newsletters

TAX CALENDAR

July 21, 2014 by changescapeweb

November-December 2013: It’s time for 2013 year-end and 2014 tax planning.This is highly recommend planning now if you have a substantial increase in income or fewer deductions. Please call for an appointment. December 31, 2013: This is the last day to paydeductible expenses for the 2013 return. This doesn’t apply to IRA, SEP, or Keogh […]

Filed Under: Newsletters

How the Health Care Law Will Impact Your Taxes

July 21, 2014 by changescapeweb

There has been a great deal of media coverage related to the US Supreme Court upholding the Affordable Care Act, also know as the Health Care Law. The media coverage was generally political and failed to explain the details of how the law will impact individuals. If you are interested in political rhetoric as to […]

Filed Under: Newsletters

November 2013 Due Date Reminders

July 21, 2014 by changescapeweb

November 2013 Individual Due Dates November 12 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during October, you are required to report them to your employer on IRS Form 4070 no later than November 12. Your employer is required to withhold FICA […]

Filed Under: Newsletters

Planning Pension Distributions

July 21, 2014 by changescapeweb

Article Highlights Except for distributions from Roth IRAs, pension distributions are generally taxable. Pension distributions can increase the tax on your Social Security benefits. Pension distributions can increase your marginal tax rate. IRA-to-charity transfers are allowable in 2013. An individual may begin withdrawing, without penalty, from his or her qualified pension plans and Traditional IRAs […]

Filed Under: Newsletters

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by phone: 636-946-0001
by fax: 636-946-4782
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ST. CHARLES FINANCIAL SERVICES, LLC
571 Jefferson St.
St. Charles, MO 63301

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Securities offered through The O.N. Equity Sales Company, Member FINRA/SIPC, One Financial Way, Cincinnati, Ohio 45242 (513) 794-6794. Investment Advisory Services offered through O.N. Investment Management Company. St. Charles Financial Services, LLC, is not a subsidiary or control affiliate of either The O.N. Equity Sales Company or O.N. Investment Management Company.

Representatives are licensed to offer insurance and annuities in MO, IL, MA, CA, KY, VA, AL, OK. This website is not intended for residents of other states.

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Monday - Friday
8:30 a.m. - 4:30 p.m.

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