Posts Tagged ‘Tax’
The Consolidated Appropriations Act of 2021…In Under 5500 Pages!
Does the excitement of the new Consolidated Appropriations Act of 2021 keep you awake at night? If so, you can find all 5,593 pages here on Congress’s website and I’m confident your insomnia will be cured by page 3. Like most of you, I skipped most of the tiny print of the bill in favor…
Read MoreCARES Act – What You Need to Know
Last week the President signed into law the Coronavirus Aid, Relief and Economic Security Act (CARES Act), an economic stimulus package worth approximately $2 trillion.
Read More5 SECURE Act Changes…and How You May be Affected
In December of 2019, under the cover of darkness and impeachment hearings, some of the most significant tax legislation of the past 20 years passed in unusual bipartisan fashion: the Setting Every Community Up for Retirement Enhancement Act, or SECURE act. The name- which undoubtedly took weeks of debate to come up with and agree upon, speaks to the purpose, though not the entirety or sweeping nature of the act; a rare legislative accomplishment for an otherwise gridlocked Washington. While the act addresses a number of retirement chads left hanging after the Tax Cut and Jobs Act (TCJA) of 2017, it also makes changes to 529 plans, medical expense deductions, kiddie taxes and more. The focus of the plan is clear, however, in its attempt to modernize and streamline retirement savings for Americans.
Read More10 End of Year Action Steps to Potentially Reduce Your Tax Burden
It’s the most wonderful time of the year…to take advantage of tax savings opportunities.
As we begin the final weeks of the year, consider the following action items to potentially reduce your tax bill and improve your financial footing in 2020 and beyond.
Filling Your Tax Bucket
How do you recognize 300K of capital gains in your taxable account without paying taxes? This article addresses this question and explains, in simple terms, how our tax system works.
Read MoreTax Cut and Jobs Act (TCJA)… translated into non-tax speak
Every once in awhile, Congress does… well… something. Despite efforts by both parties at times, Congress managed to pass legislation in late December of last year that will have a real impact on most Americans. These changes, which took effect January 1st of 2018, will, in many cases, mean reduced tax rates for most, though…
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