I am busy performing tax planning services this time of year for clients. This usually involves putting a projection together based on the client’s income and deductions for the past 10 or 11 months, plus an estimate of income for…
With tax season fast approaching, I want to alert you to a revised form that we are asking all clients to complete for this upcoming tax season. This summer, the staff and I spent some time working on a new…
I recently attended a tax planning seminar, and they included an excellent summary write-up of the common tactics that taxpayers can use to reduce their taxable income and hence their federal tax obligation. The tips break down into three broad…
I try very hard to stay away from politics but with the election in two months I think it is important to take a look at the tax reform proposals that Joe Biden has issued since kicking off his presidential…
How much can you save for retirement in 2020? IRS notice 2019-59 details the technical guidance for 2020 retirement plan contribution limits. According to Vanguard’s How America Saves, in 2018, 13% of employees with retirement plans at work saved the…
2019 is our second year following the significant tax law changes enacted under the Tax Cuts and Jobs Act (TCJA) and many taxpayers are still getting used to the new rules and the impact to their tax return. Below are…
Saving for retirement can be confusing. How much of my earnings am I supposed to save for retirement? What retirement plan options do I have? What investments are best for my situation? A good rule of thumb is to try…