Here are several tax moves to consider as 2021 comes to a close. In this issue:Tax Cutting Actions to Take Before Year-End Accelerate income into 2021. Income tax rates may increase in 2022, with the top income tax rate projected to increase from 37% to 39.6%. If it makes sense, take advantage of 2021's 37% rate …
Category: Planning
A Dozen Tax Planning Triggers
Taxes and the amount you pay is not all up to chance. Here are a dozen reasons to sit down with a professional to review your situation. With all the tax law changes over the past few years, here are some things that should trigger you to conduct a full tax planning session to ensure …
Tax Planning Insights: October 2021
If you're interested in minimizing your tax obligations and maximizing your savings, consider the helpful tips and ideas you'll find in this newsletter. The Mutual Fund Tax Surprise!Some tax planning tips for mutual fund investors From a tax planning viewpoint heading into the 2021 tax season, here are some great mutual fund tips to avoid …
Tax Planning Insights: September 2021
As states create tax laws to capture revenue from non-resident individuals and small businesses, many are caught unaware of the changing state tax landscape. Make sure this doesn't happen to you. State Taxing Authorities Are Coming After Your Money Laws have been created that snag taxpayers everywhere New state tax laws are making more and …
Reminder: Third Quarter Estimated Taxes Due
Make your estimated tax payment now If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The third quarter due date is now here. Due date: Wednesday, September 15th, 2021 Remember, you are required to withhold at least 90 …
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The Tax Impact as Your Children Grow Up
Prepare now for potential income tax hits As your children grow older, you can easily be surprised by a larger tax bill. To help ease the possible burden, consider these tax implications as your dependent children age. A higher tax bill in your future At age 6: Loss of excess Child Tax Credit. In 2021, the …
Tax Planning with Mutual Funds
Ten ideas to maximize the benefits of your investments Mutual funds benefit from the long-standing belief that they allow investors to diversify their holdings without buying individual stocks. But to the unwary investor, tax surprises are abound. From a tax planning viewpoint, here are some great mutual fund tips. Most of these tips assume your …
Borrowing Money from Your 401(k) – Good idea? …not so much
Considering loaning yourself money from your retirement account? Read this first! For years you have put away money from your pay into your employer provided 401(k) retirement savings account. Your employer may have even matched 50% of your contribution. Now you want to take some of this money out in the form of a loan …
Continue reading Borrowing Money from Your 401(k) – Good idea? …not so much
Tax & Business Newsletter: June 2021
Here are several tax planning moves to consider this summer for your business. Also read about why a buy-sell agreement is a document you'll want to have for your business. Tax planning for small businesses isn’t restricted to the end of the year. There is plenty you can do in the summer months to reduce …
Tax Planning Insights: June 2021
If you're interested in minimizing your tax obligations and maximizing your savings, consider the helpful tips and ideas you'll find in this newsletter. Call if you would like to discuss how any of this information relates to you. If you know someone that can benefit from this newsletter, feel free to send it to them. …
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