4 new law changes that may affect your retirement plan
Posted January 8, 2020 / No comments
If you save for retirement with an IRA or other plan, you’ll be interested to know that Congress recently passed a law that makes significant modifications to these accounts. The SECURE Act, which was signed into law on December 20, 2019, made these four changes. Change #1: The maximum age for making traditional IRA contributions
Read MoreTCJA glitches and the extenders: Uncertainty looms over some federal income tax provisions
Posted April 12, 2019 / No comments
Congress has yet to tackle several outstanding uncertainties frustrating both businesses and individual taxpayers. The Tax Cuts and Jobs Act (TCJA), for example, contains several “glitches” requiring legislative fixes. Congress also has neglected to pass the traditional “extenders” legislation that retroactively extend certain tax relief provisions that expired at the end of an earlier year,
Read MoreHave you had your annual estate plan checkup?
Posted January 10, 2019 / No comments
Have you had your annual estate plan checkup? An annual estate plan checkup is critical to the health of your estate plan. Because various exclusion, exemption and deduction amounts are adjusted for inflation, they can change from year to year, impacting your plan. 2019 vs. 2018 amounts Here are a few key figures for 2018
Read MoreTax Cuts and Jobs Act offers favorable tax breaks for businesses
Posted December 27, 2017 / No comments
The Tax Cuts and Jobs Act (TCJA), which was signed into law on December 22, contains a treasure trove of tax breaks for businesses. Overall, most companies and business owners will come out ahead under the new tax law, but there are a number of tax breaks that were eliminated or reduced to make room
Read MoreProposed changes to the Federal Income Tax
Posted December 19, 2017 / No comments
As you know, both houses of the US Congress are considering proposed changes to the Federal Income Tax. While nothing is final, one change under consideration would limit the deduction for local property taxes to $10,000 per year. We bring this to your attention so that you (and your colleagues) can discuss it with your
Read MoreNEW myRA
Posted January 27, 2015 / No comments
NEW myRA There are millions of workers in America who either don’t have access to an employer-sponsored retirement plan or lack options to save for retirement. In some cases, they don’t have enough money saved to meet a minimum for opening an investment account. The United States Treasury developed myRA to address some of these
Read MoreThe Affordable Care Act
Posted January 10, 2015 / No comments
The Affordable Care Act – How does it impact my 2014 tax return? Beginning in 2014 individuals and their dependents are required to have health insurance as a result of the Patient Protection and Affordable Care Act. If you (and your entire family, if applicable) had health insurance the entire year there will be little
Read MoreThe Tax Increase Prevention Act of 2014
Posted December 10, 2014 / No comments
The Tax Increase Prevention Act of 2014 will extend for one year tax provisions will expire on December 31, 2014 The House passed late Wednesday by 378-46 vote H.R. 5771, the Tax Increase Prevention Act of 2014, which could extend a massive package of expired tax breaks through the end of the year. The bill would
Read MoreYear End Tax Planning 2014
Posted November 10, 2014 / No comments
Year End Tax Planning 2014 Year-end tax planning is especially challenging this year because Congress has yet to act on a host of tax breaks that expired at the end of 2013. Some of these tax breaks may be retroactively reinstated and extended, but Congress may not decide the fate of these tax breaks until
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