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Tag: Income Tax Planning

May 11, 2021

A Tax Wolf in Sheep’s Clothing: It’s All About the Basis!

The proposed American Families Plan could increase tax liabilities for many families by changing the way estates are taxed. Mike Cyrs, senior director of wealth transfer, takes a closer look at the plan and presents possible tax planning strategies.

May 10, 2021

Before the Sunset

Favorable gift and estate tax rates through the Tax Cuts and Jobs Act are scheduled to sunset on December 31, 2025. Financial advisor Kevin Kingston addresses the possibility that this exemption may be reduced before the final sunset date.

March 22, 2021
Tax Return 1040

Is There Any Such Thing as a “Typical” Tax Season?

The IRS has delayed the April 15th federal tax filing deadline to May 17th. A mixture of tax law changes including stimulus payment eligibility, child tax-credit changes, and the unemployment compensation exemption had accountants and taxpayers calling for a tax filing extension, and Congress heeded their call.

March 10, 2021
tips for families on utilizing tax credits for working families

Tax Planning for Working Families

When you are a working parent, gathering documents for your tax return is just one more thing to do in your busy life. Financial advisor Nicholas De Jong provides a few practical tips and ideas to help you along the way.

March 3, 2021
Start a 529 plan how to

Start a 529 Plan to Save for Your Child’s Education

As college tuition costs continue to increase, it’s more important than ever to start saving as early as possible. Financial advisor Maureen Wright provides more information about the background and benefits of 529 college-savings plans.

February 9, 2021
2020 Tax

2020 Tax Filing: What You Need to Know

The 2020 tax year was eventful in its own right with the CARES Act, stimulus payments, & federal student loan forgiveness. Before you file your 2020 tax return, keep these new guidelines in mind.

February 8, 2021
are you eligible for the education tax credit

Who Gets the Education Tax Credit: Parent, Student, or Relative?

Although the IRS rules around who is eligible to claim the education tax credit can be confusing, the answer is straightforward when you follow these two rules.

January 26, 2021
Should You Buy Company Stock as Part of your 401(k

Does it Make Sense to Buy Company Stock as Part of your 401(k) Plan?

Does it make sense to buy company stock as part of your 401(k) plan? It may be beneficial from a tax perspective. Wealth strategy associate Alexander Strauss explains this tax strategy in his latest blog post.

January 19, 2021
Some of the Tax Filings after Death Can Be Stressful

Tax Filings after Death

There are several moving parts to consider when handling a loved one’s estate. Wealth transfer specialist Mary Beth Brummond provides a helpful overview of some of the tax filings that may be required.

January 4, 2021
am i over-insured? balancing act

Comprehensive and Integrated Planning for Your Financial Future

Financial advisor Don Duncan discusses Savant’s integrated approach and how the 10 key planning areas work together to help clients work toward achieving their financial goals.

April 27, 2020

“Social Distance” Yourself from Panic by Following the Lessons of Past Bear Markets

On top of health concerns, many people are worried about their financial wellbeing. This is the time to lean on your trusted financial professionals to provide clarity on your specific […]

April 27, 2020
2020 Tax

2019 Taxes – What We Learned, What We Recommend

Alexander Strauss, financial planning and tax accountant, summarizes what we’ve learned from the 2019 tax return season and outlines possible tax reduction opportunities that you may be able to utilize […]