Posts Tagged ‘taxes’
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5 Questions You Should Ask Yourself Before You File Your Taxes – Part 1
Should I do my own taxes or hire someone to do them for me? The answer to whether you can do something and whether you should do something may often yield different results. While many of us can file our own return, whether you should file your own taxes comes down to comfort level, complexity,…
Read More5 Questions You Should Ask Yourself Before You File Your Taxes – Part 2
What documents do I need to get started? Whether you decide to do this on your own or decide to hire someone to help with your tax filing, you’ll need to gather important information and documents first. What you will need varies, depending on your tax situation. Here is a link that provides an overview…
Read MoreWhich Is Better – Traditional or Roth Retirement Accounts?
One of the most common retirement planning questions we receive from clients of all ages revolves around traditional and Roth retirement accounts. In this post, we’ll provide some of the main differences between these kinds of accounts, and some of the strategy involved with deciding which you should use. The key difference between these two…
Read MoreImplications of State Taxes in Relocations
With an increase in remote work, business owners and their employees are taking the opportunity to relocate across state lines. But whether for work or retirement, what are the possible tax implications of a move, particularly from a high-tax state to a low-tax state? With more high-tax states auditing these moves to recover lost tax…
Read MoreWhat Do the New IRS Life Expectancy Tables Mean to You?
This article was originally published on Forbes on January 5, 2021. New Changes for IRA and 401(k) Owners Likely Overhyped It’s been almost two decades since the IRS updated the life expectancy tables that govern IRA distributions. These tables calculate your annual required minimum distribution (RMD), which is the rate at which retirees over…
Read More2020 Specific Tax Deadlines You Don’t Want to Miss
To say it’s been a crazy year is an understatement. With a global pandemic, market uncertainty, and political and social unrest, there were a lot of changes this year, including to the tax code. Below are a few items you’ll need to pay attention to before year-end. Payroll Tax Cut: Effective September 1st, President Trump…
Read MoreFour Ways The SECURE Act Impacts Your Retirement Planning Now
This article was originally published on Forbes on January 23, 2020. Retirement and wealth planning have become more dynamic in recent years as Congress amends the rules on a regular basis. In the past couple of years, two significant tax code changes, each with major impacts on families strategic financial planning, were signed into…
Read MoreStop Giving Free Loans: Why You Need To Review Your W-4
This article was originally published on Forbes on June 17th, 2018. If you receive an employee paycheck from your company—physical or direct deposit—you might be wondering how your company magically knows how much tax to withhold. Here’s a secret—they are guessing (estimating, really), and you might need to double check to make sure they’re right.…
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