by admin | May 15, 2026 | Planning
Excess gift giving could cause a tax surprise In an effort to keep taxpayers from transferring wealth from one generation to the next tax-free, there are specific limits to the amount of gifts one may give to any one person each year. Amounts in excess of this limit...
by admin | May 8, 2026 | Your Income
One of the best places for parents to look for tax savings If you’re a parent, your dependent children can be a source of tax savings. There are the well-known provisions in the tax code such as the Dependent Child Care Credit and the Child Tax Credit, but...
by admin | May 1, 2026 | The Audit
What to do about your need for documentation Prior to finalizing the filing of your tax return is a good time to ensure you have proper documentation to substantiate your tax deductions. This is important as many banks start deleting online documentation that is more...
by admin | Apr 24, 2026 | Miscellaneous
Four tips to ensure your security Pretending to be an IRS agent is one of the favorite tactics of scam artists, according to the Better Business Bureau. And with the advent of sophisticated AI tools, it can be harder than ever to tell real from fake. The con artists...
by admin | Apr 17, 2026 | Planning
Plus a couple of great tips The tax-advantaged options to help pay for education are vast…and a bit confusing. A great place to start is understanding one of the most popular – the 529 college savings plan. The basics With a 529 plan, anyone can open a college savings...
by admin | Apr 3, 2026 | Miscellaneous
Now is the time to pay your taxes AND make your estimated tax payment. Both your individual tax return AND first quarter estimated tax payment are due. Here is what you need to know. First quarter due date: Wednesday, April 15, 2026 The estimated tax payment rule You...
by admin | Mar 27, 2026 | Retirement
Often if you are in dire need for money the most tempting area to look at is your IRA, 401(k), or other qualified retirement accounts. These funds, set aside for your retirement, may seem to be the answer to your financial woes. Should I take an early withdrawal? Is...
by admin | Mar 20, 2026 | Deductions
Don’t forget these ideas to lower your taxes The tax code is about 75,000 pages long, so it’s not surprising there are many overlooked money-saving deductions hidden within it. Check out this list of commonly overlooked deductions. You might wind up with a...
by admin | Mar 13, 2026 | Your Income
What everyone should know Wouldn’t it be nice to have a source of nontaxable income? You may be more fortunate than you realize. Listed here are a number of income items that the IRS does not tax. 1. Tax-free interest. Municipal bond interest is tax-free at the...
by admin | Mar 6, 2026 | Planning
Getting this wrong can cost you One of the more common tax questions is whether you need to file a federal tax return this year. The answer is: it depends. But not filing a tax return when you should can cost you plenty, especially with the passage of a major piece of...
