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2020 IRA and Pension Plan Limitations
The 2020 IRA and pension plan limitations have been announced. Below are some of the more common amounts for 2020. The defined benefit plan limitation remains at $230,000 ($225,000 for 2019). The defined contribution [...]
Year-End Tax Planning to Reduce Tax Liability
Life Events. Life events can significantly impact your taxes. For example, if you are using head of household or surviving spouse filing status for 2018, but will change to a filing tax status of single [...]
What do I need to bring to my tax appointment?
Well tax season has begun and its off to a very rocky start. While the powers that be have voted and passed the new tax season updates with what is allowable and not allowable, [...]
Government Shutdown & Your Tax Returns
Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled. “We are committed to ensuring that taxpayers [...]
Year End Tax Planning
Life Events: Life events can significantly impact your taxes. For example, if you are using head of household or surviving spouse filing status for 2018, but will change to a filing tax status of single [...]
New Tax Rules for 2018 – Individuals
A centerpiece of last year's legislation is the reduction in income tax rates. While the new law keeps the same number of tax brackets for individuals as there were in 2017, many tax rates [...]