New Itemized Deduction Limitation Will Affect High-Income Individuals This Year
Beginning in 2026, taxpayers in the top federal income tax bracket will see their itemized deductions reduced.
The new limitation up close
Before […]
Shift Income to Take Advantage of the 0% Long-Term Capital Gains Rate
Are you thinking about making financial gifts to loved ones? Would you also like to reduce your capital gains tax? If so, […]
How the Social Security Wage Base Will Affect Your Payroll Taxes in 2026
The 2026 Social Security wage base has been released. What’s the tax impact on employees and the self-employed? Let’s take a look.
FICA tax 101
Is an HDHP Plus an HSA a Financial Smart Health Care Option for You?
Health care costs continue to increase. Pairing a high-deductible health plan (HDHP) with a Health Savings Account (HSA) can help. Insurance premiums […]
The 2025 SALT Deduction Cap Increase Might Save Your Substantial Taxes
If you pay more than $10,000 in state and local taxes (SALT), a provision of the One Big Beautiful Bill Act (OBBBA) could […]
Boost Your Tax Savings by Donating Appreciated Stock Instead of Cash
Saving taxes probably isn’t your primary reason for supporting your favorite charities. But tax deductions can be a valuable added benefit. If you […]
Making the Most of the New Deduction for Seniors
For 2025 through 2028, individuals age 65 or older generally can claim a new “senior” deduction of up to $6,000 under the One Big Beautiful Bill Act […]
5 Potential Breaks to Know Before Moving a Parent into a Nursing Home
Approximately 1.3 million Americans live in nursing homes, according to the National Center for Health Statistics. If you have a parent moving into […]
Understanding the Most Common IRS Notices
For many taxpayers, receiving a letter from the IRS can feel intimidating. The envelope arrives with the IRS seal, and immediately, worry sets in: Did I make […]
The Power of Catch-Up Retirement Account Contributions After 50
Are you age 50 or older? You’ve earned the right to supercharge your retirement savings with extra “catch-up” contributions to your tax-favored retirement account(s). And these contributions […]
