Tax  Tips

These tax tips are provided as a public service by PM Financial Services. They are general in nature and not to be considered definitive advice for special circumstances^*.

Click on a Question to see the answer!

Q: I recently started a small business out of my home. Can I take a tax deduction for my home office and an additional room that I use for inventory storage and how do I figure that out?

Q: I am a stay-at-home mom. Is it possible for my husband to set up an IRA for me in my name and still receive a deduction off jointly filed taxes?

Q: What are the different types of capital gains and what are the different tax consequences associated with each?

Q: I am a professional woman earning a decent salary; can losses in my portfolio offset my earned income?

Q: What is the difference between the new 529 College Plans and UGMA (Uniform Gift to Minors Act) Accounts?

* Individual situations can vary, therefore this information should be relied upon when coordinated with individual professional advice.