Ah, the holiday season. For many this can be the most enjoyable time of year, spending much needed time with friends and family. This is also a notoriously busy time, and sometimes, managing your finances inadvertently gets put on hold. If you're over 70 ½, or will be by the end of the year, forgetting to take your required minimum distribution can have major tax consequences.
A common retirement planning tax strategy is to convert money from an IRA account to a Roth IRA. However if you are looking to reverse course from last year time is running out.
Near the end of 2017 a new tax bill was passed changing many key aspects of the tax code. A big question that many of our clients ask is "Am I withholding enough for taxes out of my paycheck?"
A donor-advised fund (DAF) gives individuals a chance to support their favorite charitable causes in a potentially more convenient and tax efficient way.
If you bought bitcoins (or any other cryptocurrencies), you should know that any transaction is potentially taxable. If you bought bitcoins as an investment, you will owe short or long-term capital gains tax when you sell them (at a profit).
The TCJA eliminated the itemized tax deduction for “home equity indebtedness” starting in 2018. Does that mean that anyone with a “home equity loan” can no longer deduct the interest? No.