Tag: Income Tax Planning
Happy New (RMD) Year!
It isn’t often we get good news from the IRS, but if you’re one of the many older Americans who must take a required minimum distribution (RMD) from your qualified retirement plan this year, your year just got off to a great start.
Filing Your Taxes in 2022: Updates from the IRS
There’s no time like the present to prepare for tax season! We have some reminders from the Internal Revenue Service to help make tax filing easier, along with some special items to consider.
Tax Deductions, Credits, and Strategies
Sometimes saving on your taxes is just a matter of knowing that a specific deduction or credit exists. This article explores the various deductions and tax credits you may be eligible to take.
Charitable Gifting [On-Demand Webinar]
In this recorded webinar, our financial advisors discuss several strategic ways to make a difference all year ‘round through charitable gifting. Learn how to create a gifting strategy that not only supports your favorite causes but also helps create tax efficiencies to save you money.
Tax Filings after Death
There are several moving parts to consider when handling a loved one’s estate. When it comes to required tax filings, a final individual return and an estate or trust return (or both) are often required. Common tax returns required after death are conveniently summarized in this blog post.
The Benefits of Donating Your RMDs to Charity
If you’re aged 70 ½ or older, you can consider a “charitable IRA rollover,” or qualified charitable distribution (QCD). Donating this way not only helps a worthy cause; it can also help you save on your taxes.
Answers to Common Questions about Charitable Gifting
In addition to benefiting charities, donations can also be helpful to the giver, if you know the rules about taxation. Here are some answers to frequently asked questions about charitable gifting.
Year-End Tax Planning Updates and Strategies [On-Demand Webinar]
In this recorded webinar, hear from our team of tax and estate professionals as they recap the proposed and enacted legislative changes made in 2021, and provide you with some optimal year-end planning strategies to help better prepare you for the upcoming tax season.
Tax-Smart Retirement Strategies
If you are retired or on your way to retirement, it’s likely you have opportunities to implement tax savings strategies. Here are five Tax-Smart Retirement strategies to consider.
Year-End Tax Planning Tips for Individuals and Small Businesses
With the holidays fast approaching, tax planning might not be high on your priority list. However, there are a few tax planning strategies that you can still execute before year-end.
The Tax Impact of Owning A Vacation Home
Many individuals incorporate vacation homes into their financial plans. Owning a vacation home may provide great tax benefits, but the rules can be tricky (and it’s important to avoid common misinformation). This article explores the tax benefits of owning two common types of vacation properties – a personal residence and a mixed-used rental.
Roth Conversions During the Current Low Tax Rate Environment
Roth conversions have increased in popularity over the past few years due to our current low tax rate environment. Because these rates are set to sunset and return to their pre-Tax Cuts and Jobs Act rates after 2025, it may be a good idea to investigate Roth conversions this year.