How is the Virginia ABLE Act Affected by the Tax Overhaul?

Q. My sister Sophie is intellectually disabled, but has a knack for baking. She recently enrolled in cooking school to work towards her dream of becoming a pastry chef. My family has been assisting Sophie with her educational … [Read more...]

Critter Corner: How Will the New Tax Law Affect Healthcare?

Hi Bebe, I recently read your article about the new tax law. It didn't talk much about healthcare. Do you know how the tax overhaul will affect healthcare? Thanks for your help, Heath Kerr --- Dear Heath, The new … [Read more...]

Critter Corner: Often Overlooked Tax Breaks for Seniors

Dear Ribbit, I read recently that Trump’s Tax Plan may eliminate the ability for seniors to deduct their medical expenses. That would certainly be a horrendous result, as my husband and I depend on that deduction. For future … [Read more...]

Tax Advantages and Overlooked Deductions for Retirees 

Q. April 15 is quickly approaching, and my husband and I are planning on doing our taxes soon. As retirees, I know that there must be some deductions that we may be overlooking. Of course, similar to most seniors on a fixed … [Read more...]

Critter Corner: Do I Pay Taxes on my Social Security Benefits?

Dear Ribbit I retired last year, and started receiving Social Security payments. Do I have to pay taxes on my Social Security benefits? Rita Iremint ------ Dear Rita, Originally, Social Security benefits weren’t … [Read more...]

Special Alert to Existing Clients and Potential Clients

YOUR LIVING TRUST MAY HAVE OUT OF DATE PROVISIONS AND NEED TO BE REVISED AS SOON AS POSSIBLE. A once-popular estate planning tool, called a "Credit Shelter Trust” or – also called a "Bypass Trust" or a "Family Trust” -- may now … [Read more...]

New, Overlooked, and Odd Tax Deductions for Seniors

  Q. With tax season upon us, I am preparing for the grueling task of filing my taxes.  I am aware that every year, the IRS makes a litany of changes to the tax code and Congress often weighs in with its own alterations as … [Read more...]

Critter Corner: Lawmakers Introduce Bill to Provide Tax Credit for Caregiving Expenses

Dear Baxter, I read something about a Bill that was just introduced to provide tax credit for caregiving. I am a part-time caregiver for my father and work 20 hours a week at my job. Iwould be interested in learning more about … [Read more...]

Critter Corner: Do I need to file taxes for a deceased relative?

Dear Commander Bun Bun, My mother passed away in 2014, and I am the executor for her estate. I typically wait until the last minute to file my taxes. Even though she is no longer with us, do I need to file taxes for her, as … [Read more...]

Ask the Expert: Can You Deduct a Toupee from Taxes?

Q. My boyfriend, Richard, became self-conscious about his baldness last year and went out one day and purchased a toupee. We also took in a foster cat, landscaped our property, and installed an in-ground pool to help us stay fit. … [Read more...]