Category: Taxes

It’s that time, again. Time to take stock of your overall situation and implement a few tax saving strategies before the end of the year. With the following reminders and tips, our goal is to help you lower your tax bill and get a head start on next year’s planning. Fund Retirement Plans If you […]

Health savings accounts are triple tax-advantaged. These accounts have become increasingly popular, as they allow employees access to a tax-deferred means of saving money to pay for medical costs now and in retirement.

Generally, for mortgages obtained after December 15, 2017, you can deduct all of the interest you pay on a home mortgage, up to $750,000, as…

Roth IRA conversions have gained popularity, thanks to the removal of the income cap on conversions several years ago. A Roth IRA allows your principal and earnings to grow completely tax-free, because contributions are made to a Roth IRA after tax.

If you are confident that you have excess capital beyond your retirement and life-spending needs, you may use a Roth IRA for estate planning.

Inflation is the loss of purchasing power over time, meaning that your money buys less than what it did in the past. Historically, inflation has averaged approximately 3% per year. However, we’re in an extremely high inflationary period right now—over the 12 months ended June 30, 2022, the Consumer Price Index for All Urban Consumers (CPI-U), a measure of inflation, increased 9.1%, the highest level since 1981.

Two significant rules have changed the RMD landscape for 2020.

This $2 trillion federal economic aid package is intended to provide relief to individuals and businesses who are suffering. It contains many tax breaks, as well as opportunities for small business loans.

This major tax reform will benefit corporations and the mega-wealthy beginning in 2018. For many individuals, the new law will add complexity. Many of the new provisions expire after December 31, 2025, at which time tax rules revert back to 2017 law. We’ve compiled a list of the provisions that will likely affect our individual clients. Stay tuned for new tax strategies that will emerge from these rules.

This post explains the wealth-creation benefits of participating in an employee stock purchase plan (ESPP). These plans are an employee benefit available at many companies that have issued publicly traded stock. Executive Summary If a company offers an employee discount, employees pay tax at ordinary income tax rates on the discount amount when shares are […]