Preparing Your Own Tax Return: Is It Worth It?
Guest Blogger Eric Wahlstrom, CPA. With easy access to online or off-the-shelf software, preparing your own tax return is often appealing as an affordable, logical option.
Guest Blogger Eric Wahlstrom, CPA. With easy access to online or off-the-shelf software, preparing your own tax return is often appealing as an affordable, logical option.
After months of speculation, on September 13th, the House Ways and Means Committee released a proposal for tax reform effective in 2022 (and possibly in 2021 for selected provisions). The proposal contains a number of provisions that were expected, and a few surprises that we did not expect.
The IRS is allowing some people to skip their Required Minimum Distributions (RMDs) from inherited IRAs. If you inherited an IRA in 2020 or later, you may not need to make a distribution this year. Read for some background.
Tears, bottles, diaper changes, onesies, little fingers, and strange sleep schedules – as many of you know, these are just a few of the things to expect when you bring home your newborn from the hospital. And here’s something else to expect: new tax credits! While I know good parents don’t have kids to lower their tax bill, it’s nice of the US Government to extend a bit of kindness to those taking on the heartache – and joy! – of becoming parents.
In December 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement (SECURE) Act into law. Will it affect you?
In December 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement (SECURE) Act into law. Will it affect you?
As you wait for those semi-warm days of spring, there are a few things you can do between now and April 15th connected to your 2020 tax return.
Did you know that there are just four uses of money? They are Owe, Grow, Give, and Live.