/Tag: taxes

Macro View of the Upcoming Economic Environment

By |2019-11-11T14:30:05+00:00November 11th, 2019|Categories: Business Wise|Tags: , , , , , |

Macro View of the Upcoming Economic Environment   Bottom line is that the U.S. and Global Economics are slowing.  ITR anticipates a weaker fourth quarter 2019 extending into mid-2020 due to a variety of issues, including the trade war and geopolitical issues such as Brexit, Iran/Saudi Arabia, Italy and Turkey/Syria.  Originally, they predicted an early 2020 recovery but [...]

10 Years and Counting: Points to Consider as You Approach Retirement

By |2017-05-09T22:13:52+00:00July 7th, 2016|Categories: Personal Planning, Uncategorized|Tags: , , , , , , |

If you're a decade or so away from retirement, you've probably spent at least some time thinking about this major life change. How will you manage the transition? Will you travel, take up a new sport or hobby, or spend more time with friends and family? Should you consider relocating? Will you continue to work in [...]

Marriage and Money

By |2017-05-09T22:13:48+00:00April 29th, 2016|Categories: Personal Planning, Uncategorized|Tags: , , , , , |

U.S. Supreme Court decisions have given same-sex married couples the same rights and privileges as opposite-sex married couples. If you're married or on your way to the altar, you'll want to sort through the financial implications and potential opportunities you have. 1. Evaluate your employee benefits Once you're married, you may want to coordinate workplace benefits [...]

It's About More Than Taxes

By |2017-05-09T22:13:46+00:00February 24th, 2016|Categories: Business Wise, Uncategorized|Tags: , , , , |

It is officially everyone’s favorite season of the year. No, I am not referring to one of the traditional four seasons; I am, of course, referring to tax season. It seems that every time tax season comes around, people tend to go into a frenzy. A slew of questions always arrive at this time. “How much [...]

An Often Overlooked, but Important Process… Year-End Tax Planning

By |2017-05-09T22:13:31+00:00June 16th, 2015|Categories: Personal Planning, Uncategorized|Tags: , , , , , |

As the year begins to unfold we gain a clearer idea of how things will be shaping up relative to annual income and expenses. From year to year things can change, and it is important to know and understand how these changes can affect your income tax outcome. Year-end tax planning is a way to be [...]

New Legislation Extends Popular Tax Provisions

By |2014-12-22T12:56:40+00:00December 22nd, 2014|Categories: Personal Planning, Uncategorized|Tags: , |

In one of its final actions, the 113th Congress passed the Tax Increase Prevention Act of 2014. This legislation extends for one year a host of popular tax provisions (commonly referred to as "tax extenders") that had expired at the end of 2013. The President is expected to sign the legislation. All of the following provisions [...]

Revised One-Rollover-Per-Year Limit Applies in 2015

By |2017-05-09T22:13:21+00:00December 17th, 2014|Categories: Personal Planning, Uncategorized|Tags: , , , , |

Background The Internal Revenue Code says that if you receive a distribution from an IRA, you can't make a tax-free (60-day) rollover into another IRA if you've already completed a tax-free rollover within the previous one-year (12-month) period. The long-standing position of the IRS was that this rule applied separately to each IRA someone owns. Earlier [...]

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Tax Considerations for Same-Sex Marriages

By |2014-03-04T17:04:46+00:00March 4th, 2014|Categories: Personal Planning, Uncategorized|Tags: , , , |

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have announced that same-sex couples who are legally married in jurisdictions that recognize same-sex marriage will be treated as married for all federal tax purposes. Guidance has been provided in the form of a Revenue Ruling (Rev. Rul. 2013-17).  Here is a link to [...]

3 BIG Reasons to Participate in Your Employer HSA-HDHP

By |2017-05-09T22:13:01+00:00February 18th, 2014|Categories: Personal Planning, Uncategorized|Tags: , , , |

What is a HSA/HDHP? HSA/HDHP is a stands for “health savings account/high-deductible health plan”.  In order to open a HSA, one has to be enrolled in a HDHP so the two really go hand-in-hand.   Health Savings Accounts (HSA) were created in 2003 as a part of the Medicare Prescription Drug and Modernization Act.  HDHP’s are health [...]

2013 Year-End Tax Planning Basics

By |2013-11-26T16:28:47+00:00November 26th, 2013|Categories: Personal Planning, Uncategorized|Tags: , , , , |

You don't want to pay any more in tax than you have to. That means taking advantage of every strategy, deduction, and credit that you're entitled to. However, the window of opportunity for many tax-saving moves closes on December 31, so it's important to evaluate your tax situation now, while there's still time to affect your [...]