When summer heats up is a great time to be cool and start strategizing how to reduce your family’s 2026 tax bill. Starting early with proactive planning gives you time to make strategic decisions and devise an action plan that could help you keep more profit in your pocket. Our top six strategies include great
When is “ROTH” the Best Choice for Your IRA or 401(k)?
The most common and powerful tools to help individuals save for retirement are IRA and 401(k) accounts. Both types also offer a “Roth” option, but most folks are not familiar with the similarities or differences between them, or know when a Roth is more advantageous tax wise for different stages of life. You might even
20 Tax Tips to Tame Your Tax Bill
While most people tune into taxes in March and April due to the annual deadline, tax planning is most effective when it is a year-round endeavor. Here are 20 of our CPA’s best tips to use throughout the year, to make the most of your tax return come tax time. Gift Tax Exclusion Currently,
Mid-Year Financial Wellness Checklist
Your health is important, so you don’t delay that mid-year trip to the doctor for a check-up. Well your financial health is just as important! And July is the perfect time for you and your family to have a mid-year financial check-up. Not sure how to review your goals and update your financial plan? Here’s
7 Gifts for Graduates
Graduation is a huge milestone for anyone, but especially for younger people who are looking forward to college, or their first job after crossing the stage. We all know well wishes are in order, but for family members or friends who want to give a special graduation gift, what do you do? Cash is always
Don’t Be Reckless With Your Refund!
Tax refunds are on the way! While you may be tempted to spend it and get the “fun” out of your refund, remember you also have a great opportunity to a nice chunk of change and invest it. In that spirit, we have compiled a list of suggestions on how to use that refund check
Ten Tax Tips to Make That Dream House Your Own
Buying a home can be difficult and expensive. Thankfully, there are tax breaks that can help you in your quest to become a homeowner, and also assist you with the mortgage and maintenance. Our tax experts have put together a list which can provide great savings for those who qualify. Using 401(k) or IRA funds
Retirement Plan Limits Rise for 2024 and IRA Contributions Continue Until Tax Deadline
Have you heard the good news? The IRS announced late last year that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023. The catch-up contribution limit for aged 50 and over remains at $7,500. This means if you are 50 yrs or older you
FAQs About QCDs For The Charitable Minded
Did you know that, if you are at least 70½ years old, you can make tax-free charitable donations directly from your IRA? Making a Qualified Charitable Distribution (QCD) can exclude up to $100,000 annually from gross income while benefitting your favorite charity. These “charitable IRA rollovers” are gifts that would otherwise be taxable IRA distributions!
TAX PLANNING MAY MEAN YOU KEEP MORE OF WHAT YOU MAKE
Making more money does not always have to mean paying more taxes, but you do need a plan, and more than just a prediction. Whether you are an individual or a business owner, don’t wait till yearend like most folks, when it is generally too late to do much, focus on what you can do
