Investing in the Future with a 529 Education Plan
If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as 529 plans. […]
Year-End Tax Planning Ideas for Individuals
Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next.
Don’t Forget Income Taxes When Planning Your Estate
As a result of the current estate tax exemption amount ($12.06 million in 2022), many estates no longer need to be concerned with federal […]
Can Homeowners Deduct Seller-Paid Points?
In its latest report, the National Association of Realtors (NAR) announced that July 2022 existing home sales were down but prices were up nationwide, compared with last […]
Is Your Income High Enough to Owe Two Extra Taxes?
High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment […]
Home Sweet Home: Do You Qualify for Office Deductions?
If you’re a business owner working from home or an entrepreneur with a home-based side gig, you may qualify for valuable home office deductions.
An “Innocent Spouse” May Be Able to Escape Tax Liability
When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount of tax on the […]
Estimated Tax Payments: Who Owed Them and When is the Next One Due?
If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is the case if […]
Inflation Reduction Act Provisions of Interest to Individuals
You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it will reduce inflation in […]
Is Your Income Tax Withholding Adequate?
When you filed your federal tax return this year, were you surprised to find you owed money? You might want to change your withholding so that this […]
