As a part of a campaign promise four years ago, President Biden stated that individuals and households making less than $400,000 per year wouldn’t see tax increases. Two years later, the Inflation Reduction Act (IRA) was created and was chock full of tax credits, as well as a significant amount of funding for the IRS....
Most taxpayers will continue donating to their favorite charity at holiday time no matter what deduction they can or cannot claim. Donating appreciated stocks, bonds or other assets instead of cash still avoids all capital gains taxes whether or not a donor itemizes. Most folks don’t give to charity just to get a tax deduction,...
The Inflation Reduction Act of 2022 (IRA) created or expanded tax credits available to those who make energy-saving upgrades to their homes. Be sure to take advantage of these recently expanded tax credits this Fall, as many of the eligible items for your home relate to the cooler temperatures ahead. The Energy Efficient Home Improvement...
We are at the beginning of a new school year, and that means everyone, both parents and teachers have spent money on school supplies. Studies have shown that roughly 94% of teachers pay for their own supplies for their classrooms. In addition to the Back to School Sales Tax Holidays that many states have, there...
If you were a parent or grandparent who recently used contributions to a 529 plan to finance the cost of school for your child or grand-child, you may be wondering if a 529 plan might also be used by adults for themselves to get a degree or take classes later in life? The answer is...
