Hillegass, Chepenik & Hood, CPAs
(904) 246-0713
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Tax planning
Accelerating deductions/postponing income
Accelerating income/postponing deductions
Estate Planning
FAQs
Estate and gift tax
How can I determine what my business is worth for estate and gift tax purposes?
How can I minimize taxes on my estate?
How will estate taxes be paid if I leave no provision in my will?
I intend to make tuition payments directly to my grandchild's college, and I know this will reduce my estate. But would it be better to contribute to a 529 plan instead?
I just made a gift. Do I have to file a gift tax return?
If I am the account owner when I die, will the value of my 529 account be included in my estate?
The death benefit from insurance on my life will be paid to an irrevocable life insurance trust (ILIT). What if those funds are needed to pay my estate taxes?
What is a family limited partnership, and will it help reduce estate taxes?
What is the applicable exclusion amount?
Will the value of my 529 account be included in my estate or my beneficiary's estate?
Government Benefits
FAQs
Social Security
Are my Social Security benefits subject to income tax?
Does my 16-year-old have to pay Social Security tax on her earnings?
Investment Planning
Decision Tools
Taxes
Capital gains and dividends tax relief
Jobs and Growth Tax Relief Reconciliation Act of 2003: Highlights
FAQs
Taxes
I have investment property. What does basis mean, and how do I determine the basis of my property?
Will I have to pay tax on my investment income?
Retirement Planning
Decision Tools
IRAs
Comparison of traditional IRAs and Roth IRAs
Roth IRA future value calculator
Traditional IRA future value calculator
Traditional IRA required minimum distribution illustrator
FAQs
IRAs
Can I avoid the 10 percent penalty tax for early withdrawals from a traditional IRA?
Can I contribute to a Roth IRA?
Can I roll a retirement plan distribution into an IRA?
Can I set up a traditional IRA?
Can I shift my traditional funds to a Roth IRA?
Can I still have a traditional IRA if I contribute to my 401(k) plan at work?
Can I take money from my IRA without any penalty?
I need money--can I take funds from my IRA?
It's January, and I forgot to contribute to my IRA. Is it too late?
Should I invest in a Roth IRA or a traditional IRA?
Should I withdraw money from my IRA to pay for my child's college tuition?
What are my options if I inherit an IRA or employer-sponsored plan?
What are required minimum distributions and how are they calculated?
What are the rules for IRA contributions?
What's a premature IRA distribution, and what happens if I make one?
Social Security
Are my Social Security benefits subject to income tax?
Tax Planning
Articles
General tax planning
Am I having enough withheld?
Help! I can't pay my tax bill
Tax planning for the self-employed
Year-end tax planning
Tax credits and deductions
Education tax credits
Personal deduction planning
Taxes and insurance
Tax planning for annuities
Tax planning tips: disability insurance
Tax tips: health insurance
Tax tips: long-term care insurance
Decision Tools
Tax credits and deductions
Is my home mortgage interest fully deductible?
Tax credit sampler
FAQs
General tax planning
Are my Social Security benefits subject to income tax?
Are scholarships and grants subject to federal income tax?
I don't have the cash to pay my taxes. What can I do?
I have investment property. What does basis mean, and how do I determine the basis of my property?
My spouse passed away this year. When I file my taxes, what filing status should I claim?
What is my tax bracket?
What is the alternative minimum tax?
What is the basis of property received as a gift?
What is the kiddie tax?
What penalties and interest will I be charged for paying and filing my federal income taxes late?
Tax credits
Can I take the tax credit for child care?
Now that my child is in college, am I entitled to any education tax credits?
What are the Hope credit and the Lifetime Learning credit?
What is the child tax credit?
What is the difference between the child tax credit and the child and dependent care tax credit?
What is the earned income credit and who qualifies for it?
Tax deductions
Can I deduct home office expenses?
Can I deduct premiums paid for long-term care (LTC) insurance?
Can I deduct the cost of improvements or repairs I've made to my home?
I paid my mother's real estate taxes last year. Can I deduct this on my tax return?
I refinanced my principal home last year and paid points. What are points, and can I deduct them on my tax return?
If I prepay next year's taxes this year, can I deduct them this year?
If I work at home occasionally, am I entitled to a home office deduction?
Is student loan interest deductible?
My spouse and I are filing separate returns. Can we both itemize our deductions? If so, how do we split the deductions?
We just bought our first home. What can we deduct from the settlement statement?
Taxes and child support/alimony
Are alimony payments considered taxable income?
What are the tax implications of child support payments?
Taxes and home ownership
Can I deduct the cost of improvements or repairs I've made to my home?
How do I figure the tax on the sale of my home?
I refinanced my principal home last year and paid points. What are points, and can I deduct them on my tax return?
I rent my home out for two weeks each year. Do I have to show this rental income on my federal income tax return?
If I prepay next year's taxes this year, can I deduct them this year?
My town has assessed against me a real estate betterment for new sewer lines installed in my street. May I deduct this amount on my tax return?
We just bought our first home. What can we deduct from the settlement statement?
Taxes and insurance proceeds
Are life insurance proceeds income taxable?
I receive disability insurance payments. Are they taxable?
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