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HHL Group, Inc. Newsletter for March 28, 2017


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Here are your Articles for March 28, 2017.
  HHL Group, Inc.’s News
Sources of Tax-Free Income
You may think you have to pay tax on all income you receive but it’s not true. Even with the federal tax increases that have gone into effect in recent years, there are still some ways to earn income that is free from tax. This video explains income from Roth IRAs. The accompanying article looks into 9 other of income that generally don’t come with a federal income tax liability.

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  Timely Opportunities
Remember the New FBAR Filing Deadline
Did you have an interest in (or authority over) a foreign financial account during 2016? If so, you’ll need to electronically file a form called the “Report of Foreign Bank and Financial Accounts” (FBAR). That form — which is due on April 18, 2017 — may be reviewed by IRS examiners as part of its efforts to unearth offshore tax evasion. Here’s an overview of how to comply with the IRS regulations on reporting foreign accounts. 

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  Personal Finance
Take Steps To Protect Your Information From Cyber Criminals
The Internet has become such a big part of our lives that it’s easy to forget it can be very dangerous, even when handled with care. Whether you’re logging on to do banking or to indulge in entertainment — such as fantasy football — you should always assume someone may be watching for an opportunity to steal your identity and siphon off your assets.

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  Tax Planning
Does Your Child Need to File an Income Tax Return?
Even young children who are your dependents may have to file tax returns, depending on the details. The fact is, the IRS doesn’t exempt anyone from taxes and, therefore, tax returns based on age or dependency. It’s about income, of course. This article explains the thresholds you’ll need to be aware of  that could trigger the need for a tax return, or when you should file even if you don’t have to.

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  Insurance
Insuring Your Second Home
Having a vacation home is a wonderful thing. You might even be able to piggyback the insurance on the homeowner policy of your main home. But be aware, the coverage you’ll need for a vacation home should have some features that are tailored for this type of residence. Your insurance agent needs to know specific details about usage, so be prepared for extra questions.

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  Latest Headlines
Wall St. flat as investors look beyond healthcare bill
Reuters.com – Tue, 28 Mar 2017 10:05:23 -0400
U.S. consumers most confident since 2000
Reuters.com – Tue, 28 Mar 2017 10:59:01 -0400
Trump tweets, then Ford announces investment in three Michigan plants
Reuters.com – Tue, 28 Mar 2017 10:56:55 -0400
China’s Tencent takes 5 percent stake in electric-car maker Tesla
Reuters.com – Tue, 28 Mar 2017 10:50:03 -0400
Home prices rise faster than expected in January
Reuters.com – Tue, 28 Mar 2017 09:18:24 -0400
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  Disclaimer of Liability
Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

 

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