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...]
Qualified Charitable Distributions from IRAs
Roth Contributions and Conversions
Roth IRAs are popular retirement savings vehicles because distributions from them are tax-free. You can make a contribution to a Roth IRA if your income is below a certain level but another way to fund a Roth is to convert some or all of your IRA or retirement plan money to a Roth IRA. Contributing … [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...]
Where is my stimulus payment?
As the coronavirus (COVID-19) continues to affect our country and local communities, we want to provide some clarity to the tax-related provisions of the CARES Act. The "economic impact payments" for individuals have garnered the most interest and have received a great deal of media attention over … [Read more...]
Recorded Webinar: Open Enrollment Time!
Have questions about enrolling for health insurance and other employer/employee benefits? Key Conversations: Options that may be available to employers/employees Health insurance options Health Savings Accounts (HSAs) Life & disability insurance options Dependent Care Flexible … [Read more...]