Keep an Eye Out for IRS-Related Scams
Tax Day Tip! Now that your taxes are filed, keep an eye out for IRS-related scams The IRS warns that although scams are especially prevalent during tax season, they also…
Tax Planning
Tax Tips for 2023
How can I minimize taxes on my estate? This question may seem simple, but the answer is not so easy. In fact, there are experts who make their living answering…
How The New Estate Tax Rules May Affect Your Estate Plan in 2023
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the 2010 Tax Act) included new gift, estate, and generation-skipping transfer (GST) tax provisions. The 2010 Tax Act…
Income Tax Key Numbers 2022-2023
Alternative minimum tax (AMT) 2022 2023 Maximum AMT exemption amount $118,100 (MFJ), $75,900 (Single/HOH), $59,050 (MFS) $126,500 (MFJ), $81,300 (Single/HOH), $63,250 (MFS) Exemption phaseout threshold $1,079,800 (MFJ), $539,900 (Single/HOH/MFS) $1,156,300…
IRS’s New Tax Brackets 2023
By Ashlea Ebeling Oct. 27, 2022 Many Americans will see their tax burden drop next year because of inflation adjustments made by the Internal Revenue Service. Some will benefit more…
Is this year the best time to consider a Roth Conversion?
With the markets down from this time last year, Roth conversion may be a perfect option to yield additional tax benefit when moving money. Using Roth Conversions to Reduce Taxes…
The Benefits of Tax-Advantaged Savings Vehicles
Taxes can take a big bite out of your total investment returns, so it’s helpful to look for tax-advantaged strategies when building a portfolio. But keep in mind that investment decisions shouldn’t be driven solely by tax considerations; other factors to consider include the potential risk, the expected rate of return, and the quality of the investment.
Year-End Charitable Giving
With the holiday season upon us and the end of the year approaching, we pause to give thanks for our blessings and the people in our lives. It is also…
IRS Releases 2022 Key Numbers for Health Savings Accounts
The IRS has released the 2022 contribution limits for health savings accounts (HSAs), as well as the 2022 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs). An…
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…