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HHL Group, Inc. Newsletter for September 27, 2016

Your marital status affects your federal tax return in significant ways. You and your spouse may wind up paying more taxes as a married couple than you did combined when you were single. In this video, we’ll tell you what might happen to your tax bill after you say “I do.” In the accompanying article, we’ll explain some of the tax implications of getting divorced.

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Itemized deductions for qualified residence interest are an ongoing source of controversy between taxpayers and the IRS. Here, we review the rules and summarize several recent developments for deducting interest from acquisition and home equity debt for federal income tax purposes. Some of the latest U.S. Tax Court decisions might even surprise you.

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If you have college-bound kids and think you may need financial aid to pay tuition and other related costs, there are some things you need to know well in advance. The amount of your family’s financial assets may be less important than how those assets are structured. To get a heads up about how the system works, read the “Full Article.”

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Leasing a car is an attractive option for many people because of the low upfront outlay of cash. If you’re considering leasing a car as opposed to buying one, you may want the added security of insurance to fill in the “gaps” left by standard insurance. This article provides an overview of gap insurance to help you make an informed decision before you sign a lease.

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According to two key studies, using a proven financial professional can bring better results than trying to make do without one. Potential advantages aren’t just financial, but also may include a lowered stress level. To learn more about the value of using a financial advisor, keep reading.

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U.S. jobless claims rise, but labor market still strong
Reuters.com – Thu, 20 Oct 2016 09:01:16 -0400
Wall St. flat amid mixed earnings reports
Reuters.com – Thu, 20 Oct 2016 10:08:35 -0400
U.S. home resales rise, prices also up as inventory stays tight
Reuters.com – Thu, 20 Oct 2016 10:06:01 -0400
Verizon revenue drops as subscriber additions disappoint
Reuters.com – Thu, 20 Oct 2016 09:10:09 -0400
California launches criminal probe into Wells Fargo account scandal
Reuters.com – Thu, 20 Oct 2016 10:25:10 -0400

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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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