Tag: Federal Tax

January 8, 2024

New Gifting and Contribution Limit Changes For 2024

There’s one thing we can always count on at the start of each new year – new contributions and gifting limitations from the IRS. As you begin your planning for the year ahead, we’ve highlighted some of the key 2024 changes to be aware of for retirement accounts, health savings accounts, and gifting. Individual Retirement [...]

Contributions from: Jay Winston, CFP®

April 27, 2023

How to Avoid Surprises When Filing Your Tax Return

When the hard part of filing your tax return is over, it often feels like cause for celebration, and a relief to put behind you until this time next year! But depending on your unique circumstances, you may have seen the result of your filing and found yourself wondering “How did I get here?”. Maybe [...]

Thanh EvoniukVince Lee
Contributions from: Thanh Evoniuk, CPA, Vince Lee, CFP®, CPA

March 30, 2022

What Issues Should I Consider When Reviewing My Tax Return?

Whether you have a tax refund heading your way or you owe additional taxes with your return, you may be wondering “what can I do next year to reduce my taxes?” While the subject of taxes is fresh on your mind, this is a great time to review your income, deductions, and potential for savings [...]

Vince Lee
Contributions from: Vince Lee, CFP®, CPA

March 11, 2022

Does My Child Need to File a Tax Return?

Your teenager may have had their first job working at the snack shack last summer, and their W2 just arrived in the mail.  Or perhaps you collectively decided to sell some of the gifted Microsoft stock from their custodial account so your teenager could purchase their first car.  Now you’ve received a 1099 and wonder [...]

Vince Lee
Contributions from: Vince Lee, CFP®, CPA

November 30, 2021

Year-End Tax Planning in Light of Proposed Tax Changes

Update as of 12.19.21 With the end of the year rapidly approaching, the Build Back Better Act still faces significant disagreements in the Senate that appear likely to stretch into 2022. It remains to be seen what effect this delay will ultimately have on the tax changes included in the bill, but the longer that [...]

Vince LeeIan Curtiss
Contributions from: Anne Marie Stonich, CFP®, CPA, Vince Lee, CFP®, CPA, Ian Curtiss, CFP®, CFA®, ChSNC

August 18, 2021

Planning for Biden’s Proposed Tax Changes

SUMMARY President Joe Biden has proposed substantial changes to the tax code, mainly focused on individual income and investment taxes, and at least some of them stand to have a significant impact on high-net-worth investors.  The proposed changes create challenges, but also planning opportunities. This blog post focuses on what potential changes are ahead, who [...]

Ian CurtissVince LeeGlen White
Contributions from: Anne Marie Stonich, CFP®, CPA, Ian Curtiss, CFP®, CFA®, ChSNC, Vince Lee, CFP®, CPA, Glen White