Financial Resources & Insights

The amended rules under the Coronavirus Aid, Relief, and Economic Security (CARES) Act provide flexibility for health-care spending related to the ongoing COVID-19 pandemic.

2020 Education Tax Planning including deductions and education savings plans.

2020 Retirement Plan, IRA and Fringe Benefit Limits

Business Planning - Key Numbers 2020, adoption assistance programs, health insurance deduction for self employed, qualified transportation benefits, section 179 expenses, small business tax credit, standard mileage rate

2020 Federal Income Tax Rate Schedules Individuals, Trusts, and Estates

Alternative Minimum Tax (AMT), child tax credit, earned income tax credit, itemized deductions, kiddie tax, personal exemptions, and more.

The SECURE Act represents the most sweeping set of changes to retirement legislation in more than a decade. Many individuals will likely want to revisit their retirement and estate strategies to prevent  unexpectedly high tax bills in the future.

The IRS publishes annual updates to IRA and retirement plan contribution and earning limits for eligible participants. For 2020, changes are happening that impact IRA income rules and 401k/403b contribution limits.

When making charitable gifts at the end of a year, you should consider them as part of your year-end tax planning. Typically, you have a certain amount of control over the timing of income and expenses. You generally want to time your recognition of income so that it will be taxed at the lowest rate possible, and time your deductible expenses so they can be claimed in years when you are in a higher tax bracket.

A health savings account (HSA) is a tax-advantaged account linked with a high-deductible health plan (HDHP). They work together to help you cover your current health-care costs and also save for your future needs.