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Don't Tax Yourself Blog

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Help Paying for College - Federal Tax Credits

USA - February 27 2024 Education income tax credits are one way students and parents can help pay for college. There are two types of federal tax credits available to…

Recently Married - Should We File a Joint Tax Return?

USA - January 22 2024 After the excitement of the wedding and honeymoon is over, newlyweds should start thinking about joint Finances and their income taxes. A common…

Estates Under $2 Million - Do I Need an Estate Plan?

USA - December 21 2023 With the exciting and long overdue news of the increase in the Massachusetts estate tax exemption from $1 million to $2 million for decedents Dying…

Changes to Massachusetts Tax Law - Charitable Contributions New for 2023

USA - December 15 2023 Massachusetts taxpayers will be able to deduct charitable contributions on their state income tax returns for charitable contributions made after…

Big Increase in 2024 Estate Exemption - IRS Issues 2024 Inflation Adjustments

USA - November 22 2023 The IRS recently issued the 2024 annual adjustments for numerous tax provisions, including changes to tax brackets and standard deductions. Popular…

Year-End Charitable Giving and IRA Qualified Charitable Distributions

USA - November 20 2023 As the 2023 tax year winds down, owners of individual retirement accounts (IRAs) might consider combining the 2023 tax benefits of charitable giving…

What Happens if I Die Without a Valid Will in Massachusetts?

USA - November 15 2023 As estate planning attorneys, a question that often arises with new and prospective clients is, “What happens if I die without a will?” The short…

Tales from the Docket: Who Gets the Money When a Trust Fails?

USA - November 1 2023 In 1998, Elizabeth died leaving a will that contained a trust for the benefit of her niece, Jean, for her life. Upon Jean’s death, the remaining…

Massachusetts Tax Reform Enacted - Estate Tax Exemption Increase and Other Help for Residents

USA - October 4 2023 The long-awaited Massachusetts tax reform package was signed by Governor Maura Healey on Wednesday, October 4, 2023. Among the provisions: Estate Tax…

Two-Year Delay for Changes to Catch-up Contribution Rules

USA - August 29 2023 On August 25, 2023, the Internal Revenue Service announced a two-year delay in implementing changes to the catch-up retirement contributions of…