DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...
Weekly Tips

Weekly Tips

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Mike's weekly post usually concentrated on tax saving strategies.

Mike DiSabatino

Tax Planning with Mutual Funds

Weekly Tips
10 ideas to maximize the benefits of your investments

Far more individuals are invested in the stock market through mutual funds than in the past. This phenomenon is due in part to the creation of many forms of tax deferred retirement savings programs such as IRAs, Roth IRAs, company sponsored 401(k) and 403(b) plans. But mutual funds also benefit from the long-standing belief that they allow investors to diversify their holdings without buying individual stocks. From a planning viewpoint, here are some great mutual fund tips. These tips assume your mutual fund investment is NOT in a retirement account unless noted.

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Mike DiSabatino

Deductions for Non-Itemizers

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Can't itemize? There are still tax breaks for you

A common misconception in tax filing has been that if you use the Standard Deduction versus itemizing your deductions you have few additional benefits available to reduce your tax bill. This is often not the case.

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Mike DiSabatino

Roll it Before You Pull it

Weekly Tips

Tips to avoid IRS penalties on 401(k) retirement plan distributions

While each retirement plan has similar early withdrawal penalty exemptions, they are not all alike. Knowing these subtle differences within 401(k) plans can create an avoidable 10% tax penalty if you take money out of the plan prior to reaching age 59 1/2. This is true because a simple roll-over of funds into an IRA is a readily available option to avoid the penalty. You should consider rolling over your 401(k) into an IRA prior to early distribution when:

 

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Mike DiSabatino

Back to School Savings

Weekly Tips
Ti ps to make school expenses deductible

It seems like summer has just begun and the Back to School advertising blitz has already started in the media. Are there tax savings tip opportunities within this nightmare for our kids? Certainly, if you are tax smart about your spending. While the amounts may be small, they can add up in a hurry. Here are some ideas:

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Mike DiSabatino

Back to School Savings

Weekly Tips
Tips to make school expenses deductible

It seems like summer has just begun and the Back to School advertising blitz has already started in the media. Are there tax savings tip opportunities within this nightmare for our kids? Certainly, if you are tax smart about your spending. While the amounts may be small, they can add up in a hurry. Here are some ideas:

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