Monthly Archives: December 2019


Tax Benefits for People with Disabilities

Article Highlights: ABLE AccountsDisabled Spouse or Dependent Care CreditMedical DeductionsHome ModificationsSpecial SchoolingNursing Services Individuals with disabilities as well as parents of disabled children are eligible for a number of income tax benefits. This article explains some of these tax breaks. ABLE Accounts – A federal law allows states to offer specially designed, tax-favored ABLE accounts [...]

By |2019-12-18T18:42:56+00:00December 18th, 2019|Categories: Uncategorized|0 Comments

Excess Retirement Plan Contributions Can Be Taxing

Article Highlights: Excess IRA ContributionsExcess Contribution PenaltyCorrecting Excess IRA ContributionsApplying the Excess to a Future YearExcess 401(k) Contributions Failing to Timely Correct 401(k) Excess Contributions Some individuals financially struggle just to be able to make a nominal contribution to their tax-favored retirement plan, whether it be an IRA, 401(k) plan, or some form of self-employment [...]

By |2019-12-17T20:15:29+00:00December 17th, 2019|Categories: Uncategorized|0 Comments

Here Are the Best Personal Finance Podcasts You May Not Know About

Even as recently as a decade ago, most people listened to their radio shows in the exact same way — on the actual radio. Fast forward to today, and the world of podcasting has absolutely exploded, changing the way we think about broadcasting for generations to come. One great thing about podcasting is that absolutely [...]

By |2019-12-11T22:10:36+00:00December 11th, 2019|Categories: Uncategorized|0 Comments

Helpful Tax Tips For 2019

Article Highlights: Education CreditAvoiding Underpayment Penalties StrategySpouse IRA StrategyQualified Charitable DistributionsMedical ExpensesElection to Deduct Start-Up CostsState and Local Tax (SALT) DeductionsElectric Car CreditAlimonyHeath Insurance PenaltyCryptocurrency TransactionsQualified Opportunity FundsSolar Credit As the year draws to a close, we have pulled together a number of tax tips that may be beneficial, some of which need to be [...]

By |2019-12-10T22:14:14+00:00December 10th, 2019|Categories: Uncategorized|0 Comments

Is Your Will or Trust Up-to-Date?

Article Highlights: Tax Cuts & Jobs ActEstate Tax ExclusionWhy a Will or Trust?Life-Changing CircumstancesBeneficiaries When was the last time you or your attorney reviewed or updated your will or trust? If it was before the passage of the 2017 tax reform legislation, or the Tax Cuts and Jobs Act (TCJA), your documents may be out [...]

By |2019-12-05T17:05:11+00:00December 5th, 2019|Categories: Uncategorized|0 Comments

Take Tax Advantage of a Low-Income Year

Article Highlights: Exercise Stock OptionsConvert a Traditional IRA to a Roth IRAMaximize IRA DistributionsSell Appreciated StockDelay Business ExpendituresRelease DependencyDelay Personal Deductible Expenditures People generally assume that tax planning only applies to individuals with the big bucks. But think again, as some tax moves benefit lower-income taxpayers and those who are having a lower-than-normal income year. [...]

By |2019-12-03T17:40:52+00:00December 3rd, 2019|Categories: Uncategorized|0 Comments