#PersonalFinance Archives | Hutchinson and Bloodgood LLP

Tax Planning

Midyear tax planning: Review opportunities to save taxes this year (or next)

Planning opportunities often become more limited as the end of the year approaches. Reviewing your tax picture midyear gives you more time to take steps to reduce or defer taxes.

July 7, 2026

Summer is a good time to see whether your income, deductions and investment activity are lining up as expected. Let’s take a look at a few areas that commonly provide tax-saving opportunities. Your tax bracket The legislation commonly known as the One Big Beautiful Bill Act (OBBBA), which was signed into law on July 4, […]

#MidYearTaxPlanning, #PersonalFinance, #TaxPlanning

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Tax Planning

Deduct a loss from making a personal loan to a relative or friend

The, image, shows, a, person, in, a, suit, and, tie,, pointing, at, a, digital, interface., The, word, "LOAN", is, displayed, in, the, center., Surrounding, it, are, icons, of, a, clock,, percentage, symbol,, calculator,, and, document.The, image, shows, a, person, in, a, suit, and, tie,, pointing, at, a, digital, interface., The, word, "LOAN", is, displayed, in, the, center., Surrounding, it, are, icons, of, a, clock,, percentage, symbol,, calculator,, and, document.

March 26, 2025

H&B

Suppose your adult child or friend needs to borrow money. Maybe it’s to buy a first home or address a cash flow problem. You may want to help by making a personal loan. That’s a nice thought, but there are tax implications that you should understand and take into account. Get it in writing You […]

#Loans, #MoneyManagement, #PersonalFinance, #TaxPlanning

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