Your holiday season might be full of social plans, shopping, and traveling, but it’s important to take time to make important financial decisions before the end of year. Even though April 15th seems far away, the decisions [...]
There are probably a few surprises in store for you in retirement, but your tax burden shouldn’t be one of them. Even if you don’t receive a paycheck anymore, it doesn’t mean you can’t have a plan [...]
Most people don’t expect their taxes to disappear in retirement, but they may assume they’ll decrease substantially. However, this may not be the case. Between collecting Social Security, interest, dividends, and Required Minimum Distributions, your retirement income [...]
Retirement is a major event that can drastically change your day-to-day life, your financial strategies, and even your tax burden. Retirees may no longer receive taxable income from an employer, but they will likely receive income from [...]
The House of Representatives voted in favor of the Secure Act 417-3, and the bill is now on a fast track to vote in the Senate. The bill would do away with the tax-planning strategy for inherited [...]
Your steady source of income might disappear in retirement, but unfortunately your taxes probably won’t. Did you know that up to 85% of your Social Security benefit could be taxed? And, retirement account distributions are taxed differently [...]
Doing your taxes might be complicated, but thankfully filing for an extension can help give you some more time to prepare. There are many decisions to be made when preparing your taxes, such as whether you should [...]
This tax season will be the first time Americans are filing under the new tax code, adding complexity, and possibly stress, to the already complex and stressful filing process. But, like with most things in life, a [...]
Did you make an IRA charitable distribution this year? If so, you’ll want to report it on your tax return. Charitable contributions are a great way to reduce your taxable income and build your legacy. Do you [...]
Even in retirement, taxes are a guarantee. Your Social Security benefit, capital gains, and retirement account distributions can all be taxed, leaving you with less retirement income than you planned on receiving. Your tax burden is important [...]
