What Are Tax-deferred Accounts — and Why Are They Beneficial?

Deferred Tax

What Are Tax-deferred Accounts — and Why Are They Beneficial? Tax day may finally be in the rear-view mirror, but that doesn’t mean you should forget about tax planning. In fact, now is a great time to get a jump start on tax planning for the rest of this year so you’re better prepared during […]

Getting a Tax Refund? 6 Suggestions for Spending It Wisely

tax refund

Last year, more than 97 million Americans received a tax refund averaging $2,763. Now that the tax filing deadline is upon us, millions more Americans will be receiving refunds in the coming weeks. Perhaps you’re one of these people who’s looking forward to getting a check in the mail soon from Uncle Sam. If so, […]

A Taxing Decision: Should You Itemize Deductions … or Not?

Itemize Deducations

The tax reform legislation that became law at the end of last year will affect Americans’ finances in many different ways. For example, lower tax brackets will result in higher take-home pay for many people, while an expanded child tax credit will make more people eligible for this benefit. One of the biggest impacts on […]

The Tax Cuts and Jobs Act: How Tax Reform Could Affect Your Business

Tax Reform Act Business

In our last article, we discussed the major provisions of the Tax Cuts and Jobs Act — which was signed into law by President Trump on December 22 — that affect individuals and families. Here, we cover the major provisions that affect businesses. Lower Corporate Tax Rate The centerpiece of tax reform on the business […]

The Tax Cuts and Jobs Act: How Tax Reform Could Affect Your Family

Tax Reform

The Tax Cuts and Jobs Act that passed Congress on December 20 is the biggest change to our nation’s tax code in more than 30 years. This tax reform legislation will have an impact on almost every individual, family and business in the U.S. According to the Tax Policy Center, 90 percent of middle-class Americans […]

The Lowdown on the Republican Tax Reform Proposal

tax reform

In early November, Republicans in the House of Representatives finally released the details of a tax reform plan that many have been speculating about for months. If enacted, the Tax Cuts and Jobs Act would implement the biggest changes to our nation’s tax code in more than three decades. Of course, this is a very […]

IRS Reprieve Offers Opportunity for Last-Minute Tax Savings

3 extra days

The IRS has provided taxpayers with a slight reprieve this year by extending the traditional April 15 tax-filing deadline by three days. As a result, you have until next Tuesday, April 18, to file your tax return or request an extension. This means you also have an extra three days to make a 2016 contribution […]

Don’t Be Victimized By Tax Refund Fraud

Tax Identity Theft

If you’re a procrastinator when it comes to preparing your tax return each year, you’re not alone. After all, there are probably a million things you and most other people would rather do than work on your taxes. But there’s at least one reason not to procrastinate this year: avoiding tax refund fraud. The earlier […]

How to Properly Substantiate Your Charitable Donations

substantiate taxes

‘Tis the season for … tax preparation. No, it’s certainly not as fun or exciting as the holiday season. One of the first tax-preparation steps is to confirm you have all records of your charitable donations. Any donations you make to qualified Section 501(c)3 charitable organizations may be deductible on your federal income tax return. […]

Tax-Efficient Investing: How to Increase Your After-Tax Returns

tax strategies

When gauging the return on their investments, many people neglect one of the most important factors affecting their returns: taxes. Because when it comes to investment returns, it’s not what you make, but what you keep that really counts. This makes tax efficiency one of the biggest keys to successful portfolio management. Your goal should […]