Every fall, the IRS announces changes to certain key financial figures for the upcoming year, based on the Consumer Price Index as of...
Tax Planning
Year End Capital Gain Distributions
How Capital Gain Distributions Work Mutual funds are required by law to make regular capital gain distributions to their...
Tax Rules for Rental Income
You plan to purchase a second home down south to stay out of the snow and cold, or maybe one in the mountains to take advantage of...
Year-Round Tax Planning Suggestions
Tax filing day - extended to May 17 this year - has come and gone, so now is probably a good time to take a break from thinking about...
IRS Announces Federal Tax Due Date Extension
This past Wednesday (March 17, 2021), the IRS announced they are postponing the April 15 deadline to file and pay your income taxes....
American Rescue Plan Act of 2021
On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021, the first significant piece of legislation...
New Rules for Deducting Charitable Donations
The amount of income tax you pay comes down to a relatively simple formula: add up all your taxable income and subtract the greater...
Tax Season Has Begun. What Does it Mean to You?
This Friday, February 12, is the official start date of tax season. While not nearly as exciting as the recently concluded football...
How to Correctly Report Taxable Distributions from Retirement Accounts
Form 1099-R is the Form that reports the distributions taken from retirement plans during a given calendar year. Custodians, such as...
Stimulus Package Update
On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021. The law combines two initiatives....
Year-end Tax Moves Aren’t Just for the Wealthy. These Strategies Can Help Lower Your Bill.
This article originally appeared on cnbc.com and quotes EKS Associates senior wealth advisor, Howard Hook. We are sharing the article...
Reducing Income Taxes in Retirement
Everyone wants to make their money last longer once they retire. Earn more and spend less are two ways people think this can be done....