The Retirement Catch-Up Plan: Maximize Tax Savings in Your 40s and 50s

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You’ve hit your 40s or 50s, and suddenly, retirement doesn’t feel like a distant mirage. It’s real. The countdown is on. But here’s the good news: You’re in a prime position to play catch-up and fortify your future, using smart tax…

Surprising Tax Impact of Converting Your Traditional IRA to a Roth IRA

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Article Highlights: Understanding Traditional and Roth IRAs The Conversion Process Benefits of Converting Tax-Free Withdrawals No Required Minimum Distributions Estate Planning Advantages Pros and Cons of Converting …

Saver’s Credit Can Help You Save for Retirement 

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Article Highlights: Benefits Eligible Taxpayers Rules for Students, Dependents of Others and Individuals Under the Age of 18 Due Date for Contributions Low- and moderate-income workers can take steps to save for retirement and…

It’s Not Too Late for an IRA Contribution

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Article Highlights: Contribution Due Date Age Rules Compensation Rules When To Contribute Contribution Limits Deductibility & Benefits Saver’s Credit Choosing Between Traditional & Roth IRAs Most of the…

Complications to the IRA-to-Charity Distribution Provision

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Article Highlights IRA Contribution Age Restrictions Removed Required Minimum Distributions Qualified Charitable Distribution Tax Trap Individuals are required to begin taking distributions from their IRA when they reach a certain…

Tax Filing Deadlines Are Rapidly Approaching

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Article Highlights: Filing Due Date Balance due payments  Contributions to a Roth or traditional IRA Estimated tax payments for the first quarter of 2021 Individual refund claims for tax year 2017 Just a reminder to those…
Tax Law Changes Allow Year-End Charitable Planning Opportunities

Tax Law Changes Allow Year-End Charitable Planning Opportunities

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  As the end of the tax year approaches, it is worth spending a few minutes reviewing some of the changes that have been made in the tax laws surrounding donations to charities. In some cases, this guide will serve as a refresher regarding…
Congress Removes IRA Contribution Age Restriction

Congress Removes IRA Contribution Age Restriction

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On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including retroactively extending certain tax provisions that expired after 2017 or were about to expire, a number…