Hear Emily Petty and Matt Bellomo discuss tax planning issues for those who are working. Our checklist highlights things you may not have considered that can have a tax impact, planning opportunities, tax saving tips, and more. From family and filing issues to state-specific issues, our quick video … [Read more...]
Video: Tax Planning Issues for the Working
Qualified Charitable Distributions from IRAs
Did you know that if you are 70½ or older you can make tax-free charitable donations directly from your IRA? You can donate to qualified charitable organizations by making a qualified charitable distribution (QCD) from an IRA directly to the organization. You can exclude up to $100,000 … [Read more...]
The 411 on Health Savings Accounts
Most income tax benefits have symmetry. For example, if you defer income by contributing to a 401(k) plan, you are not taxed on the income that you contribute. Down the road when you distribute those funds out of your 401(k) plan, those distributions are taxable. Similarly, if your contributions are … [Read more...]
Recorded Webinar: Charitable Year-End Considerations
Have questions about tax law changes impacting charitable contributions? Key Conversations: Tax-Smart Charitable Giving Strategies Qualified Charitable Distributions (QCDs) Donor-Advised Funds Presenters: Darrell Tierney, CFP® CPA Matt Bellomo, CPA … [Read more...]
How does the tax strategy of deduction bunching work?
Deduction bunching The strategy of deduction bunching is aimed at shifting the timing of deductible expenses by bunching them together within the same year, to surpass the standard deduction amount. The goal is to time your deductions in such a way that you can itemize every few years, while … [Read more...]