Taxes

Woe to the person who inherits a Health Savings Account. Alhambra's Bob Williams describes the pitfalls and what to watch out for.

A really long time ago… in a galaxy far, far away… I worked for a building contractor. That experience taught me that every successful building project requires the right tools. And sometimes a project turns out just a little bit better because of a specialty tool, one with specific...

IRS Audit! Those are words that will send a cold chill up your spine. And it’s a phrase being heard more often. The IRS recently announced that beginning with returns from 2019 and forward, the number of audits has doubled for every income category above $100,000. But as they...

Now here’s something you don’t hear often. The IRS has a gift for you. No, that’s not a joke and you don’t have to wait for the other shoe to drop. For the first time since 2011, the IRS is raising the standard mileage rate in the middle of...

Alhambra’s Bob Williams dispels 4 common myths that can have a negative impact on estate planning.

Since the beginning of 401(k) plans in 1978, people have considered it to be the quintessential retirement plan—you get to save money before taxes and in most cases, the company puts money into your account, too. What could be better than that? But now, 44 years later, it’s time...

Alhambra's Bob Williams describes a type of investment not often thought of as a possible charitable donation, but one that lets you and the charity win.

What a crazy housing market! Skyrocketing prices, no haggling on the asking price, and bidding wars that create offers way above the asking price. It’s almost become a national pastime waiting for the monthly Zillow estimate to arrive to see what your home is worth now. Yes, if you’re...

Health Savings Accounts (HSA) for retired folks. Isn’t that a novel idea? But it’s being considered in Congress—The Health Savings for Seniors Act, H.R. 3796.   As it stands right now, the only people eligible for an HSA are those aged 65 years and younger who have a high-deductible health insurance...

The Health Savings Account has been a wonderful addition to the financial landscape of people who are eligible for one.  They’re often thought of as a way to pay for qualified medical expenses with pre-tax money during your working years for things like deductibles, copays, and non-covered items—in other...