Important Updates on IRA Tax Reporting
It is the taxpayer’s responsibility to keep records of distributions made to charity and contributions to their IRA and account for those on their tax return.
It is the taxpayer’s responsibility to keep records of distributions made to charity and contributions to their IRA and account for those on their tax return.
One of the significant changes in the tax reform bill signed by Governor Reynolds on March 1, is the eventual elimination of federal tax deductibility for determining taxable income. Iowa was one of the few remaining states that allowed taxpayers to deduct federal taxes to determine their state income taxes.
In late June, the IRS announced RMDs would be able to be reversed from any account requiring them through August 31st. Since the IRS is allowing this, it presents a potential tax planning opportunity.
October was the worst month for new car sales at his dealership in over ten years. In fact, only about 10% of car buyers that month were electing to lease new vehicles and typically, leasing is less expensive than buying. What’s going on here?
As you start checking these items off the list, the biggest things you have running through your head are dollar signs – lots and lots of dollar signs.
We had completed our hike successfully, and the challenges made it more memorable and satisfying. The same is true for all of us as investors.
Break out the cake, ice cream, and party hats because it’s time to celebrate National Estate Planning Week!
If you are giving to charities now or plan to in the future, you may possess the “Spirit of Generosity.” How do you pass that “Spirit of Generosity” on to your children and/or grandchildren?
Is your life insurance policy performing as well as it could be? Guest blogger Eryka Morehead explains some factors that could be undermining your policy’s performance.
Young physicians often ask, “Should I focus more aggressively on paying down my debt, or should I just do the minimum and try to save as much as possible?” That’s an excellent question, with lots of variables and layers.
I bought a puppy back in April, and it has been one of the most challenging things of my adult life. Training a new puppy is hard work and takes a lot of intentionality and thought. The same can be said about building a financial plan. I have a few tips that might help others avoid my mistakes.
"What is worth insuring?" The answer almost always boils down to how much you'll have to pay to insure the thing you don't want to lose -- whether it's your mustache, your fantasy football player, your home or your health.
Retirement isn’t a reward you one day receive at random. It’s not something you jump into without a thought in mind. You work up to this day with purpose, precision, and dedication.
Strangely, a down market and the response of the government to it has created potential planning opportunities that wouldn’t have otherwise been there.