Charitable Giving
When developing your estate plan, you can do well by doing good. Leaving money to charity rewards you in many ways. It gives you a sense of personal satisfaction, and it can save you money in estate taxes.
Tax
Year-End Tax Planning
As the end of the year approaches, it’s time to consider strategies that could help you reduce your tax bill. But most tax tips, suggestions, and strategies are of little practical help without a good understanding of your current tax situation. This is particularly true for year-end planning. You can’t know where to go next if you don’t know where you are now.
Income Tax Planning and 529 Plans
The income tax benefits offered by 529 plans make these plans attractive to parents (and others) who are saving for college or K-12 tuition. Qualified withdrawals from a 529 plan are tax free at the federal level, and some states also offer tax breaks to their residents. It’s important to evaluate the federal and state tax consequences of plan withdrawals and contributions before you invest in a 529 plan.
Taxation of Investments
It’s nice to own stocks, bonds, and other investments. Nice, that is, until it’s time to fill out your federal income tax return. At that point, you may be left scratching your head. Just how do you report your investments and how are they taxed?
Tax Day Considerations
Covid-19 created financial challenges for many. Find out how it may affect your April 15 tax deadline.
The Lifetime Gift Tax Exemption and Annual Gift Tax Exclusion
There are tax-free limits on what you can gift in a year and during your lifetime.
How Tax-Loss Harvesting May Help Lower Your Tax Bill
A volatile year in the financial markets can create opportunities for reducing your taxable income.
Tax time is coming…Do you qualify for the Earned Income Tax Credit?
It’s Earned Income Tax Credit Awareness Day Have you checked in with your financial professional to determine whether you qualify? Just as the cold, short days of winter lean toward monotony, the mundane becomes celebratory with the arrival of Earned Income Tax Credit (EITC) Awareness Day. The nascent January 31 annual holiday — 2021 marks … Read more
5 Ways to Maximize Your 401(k)
A 401(k) account is one of the most valuable tools for saving and planning for retirement. Many plans offer features that can help you set aside more of the money you earn for retirement and grow wealth for your financial future. If you’re able to save the maximum amount available, you should. Here are a … Read more
