Take Action Now – Reduce Your 2023 Income Tax Bill
Several factors are making 2023 a confounding tax planning year for many people. They include turbulent markets, stabilizing but still high-interest ... Read More >
Several factors are making 2023 a confounding tax planning year for many people. They include turbulent markets, stabilizing but still high-interest ... Read More >
The Social Security Administration (SSA) recently announced that the “wage base” for computing Social Security tax will increase for 2024 ... Read More >
If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise ... Read More >
As an investor, you may want to look beyond the stock market and fixed-income alternatives. Allocating some of your money to gold and other precious ... Read More >
It is important to know about an opportunity to make a qualified charitable distribution (QCD) from your IRA. Individuals must receive annual required ... Read More >
Despite its name, the “kiddie tax” is anything but child’s play. If you’re not careful, this provision of the tax code can ... Read More >
Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. ... Read More >
The stock markets have experienced significant volatility over the last year, causing many investors to realize some significant gains — and incur ... Read More >
If you’re planning to move out of your current home, you face a tough question: Should you sell your home, or would it be more beneficial to ... Read More >
Seniors who must take withdrawals from their IRAs may be able to benefit from a special tax provision for qualified charitable distributions (QCDs). ... Read More >
If you have a child or grandchild in college — congratulations! To help pay for the expenses, many parents and grandparents saved for years in tax-favored ... Read More >
Medicare health insurance premiums can add up — especially if you’re upper-income, married, and both you and your spouse pay premiums. Here ... Read More >
The IRS recently announced many inflation adjustments for the 2023 tax year. IRS Revenue Procedure 2022-38 provides details about these amounts. Because ... Read More >
High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment ... Read More >
Have you been contacted by a charity that pulls on your heartstrings and persuades you to open your wallet? There is a multitude of reputable charities ... Read More >
Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting. It seeks ... Read More >
Buying a house in today’s overheated real estate market can be challenging — especially as mortgage rates are on the rise. But financially ... Read More >
As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with the federal estate ... Read More >
Back in late 2019, the first significant legislation addressing retirement savings since 2006 became law. The Setting Every Community Up for Retirement ... Read More >
If you’re an investor in mutual funds or you’re interested in putting some money into them, you’re not alone. According to the Investment Company ... Read More >