2019 – 2020 Retirement Contribution Limits
2019 2020 Increase Limit on employee contributions to 401k, 403b, or 457 plan $19,000 $19,500 $500 Limit on age 50+... View Article
December 10, 2019 3:01 pmCategories for Uncategorized
Qualified Charitable Distribution Can Help Older Taxpayers Benefit Without Itemizing Deductions
The Tax Cuts and Jobs Act (TCJA) has made itemizing deductions less attractive and, as a result, the number of... View Article
December 10, 2019 2:57 pmNew HSA 2020 limits are as follows:
2020 2019 HSA Annual Contribution Limit $3,550 $7,100 $3,500 – Single $7,000 – Family HDHP Minimum Annual Deductible $1,400 $2,800... View Article
December 10, 2019 2:52 pmEmployee Withholding for Multiple Jobs
If you have multiple jobs, a separate withholding form must be filled out for each employer. But, neither of those... View Article
December 10, 2019 2:50 pmMid-Year Paycheck Review
Everyone should check their withholding by doing a Paycheck Checkup ASAP, even if they did one in 2018. The federal... View Article
December 10, 2019 2:46 pmTax Advantages of a Donor-Advised Fund
A donor-advised fund, or DAF, is a giving vehicle established at a public charity. It allows donors to make a... View Article
December 10, 2019 2:42 pmTHE SINGLE MEMBER LLC TAXED AS AN S CORPORATION
As a single member LLC your entity is considered a “disregarded entity” for federal tax purposes. This means that while... View Article
December 6, 2019 2:42 pmFiling College Financial Aid Forms (FAFSA)
For the 2019-2020 school year, the federal government's financial aid form, the FAFSA, can be filed as early as October 1, 2018. It relies on current asset information and two-year-old income information from your 2017 tax return, which means you'll have the income data you need when you sit down to complete the form. This is a relatively new process.
November 2, 2018 12:00 pmEconomic Nexus & State Sales Tax
On June 21, 2018, the Supreme Court of the United States handed down a historic decision in the sales and use tax nexus case South Dakota v. Wayfair, Inc. The 5-4 ruling overturns physical presence standards upheld in previous cases, such as Quill Corp.
November 2, 2018 12:00 pmGift and Estate Tax Planning
Consider implementing gift and estate planning strategies to transfer wealth to younger generations while minimizing transfer taxes.Annual exclusion gifts. The tried and true strategy of making maximum annual exclusion gifts still constitutes good planning. For 2018, a donor can give $15,000 per donee, or $30,000 per donee from a married couple.
November 2, 2018 12:00 pm
