Insights
Tag: Federal Tax
February 12, 2025
Does My Child Need to File a Tax Return?
Your teenager may have had their first job working at the snack shack last summer, and their W2 just arrived in the mail. Or perhaps you collectively decided to sell some of the gifted Microsoft stock from their custodial account so your teenager could purchase their first car. Now you’ve received a 1099 and wonder [...]
Contributions from: Vince Lee, CFP®, CPA
February 10, 2025
Tax-Efficient Investing: Don’t Lose Portfolio Gains to Taxes
The Beatles taught me my first lessons about taxes when I heard the song “Taxman” as a teenager. Years later, George Harrison’s lyrics about taxes frame a lot of my client conversations, as George was not joking when he wrote, “Let me tell you how it will be: there’s one for you, nineteen for me, [...]
Contributions from: Glen Goland, CFP®, JD
February 4, 2025
2025 Tax Update: What Do You Need to Know?
Navigating tax laws in 2025 feels a bit like waiting for the next season of your favorite TV show — you know big changes are coming, but you’re not quite sure what the writers (or lawmakers in this instance) have in store. With potential twists like the sunset of the Tax Cuts and Jobs Act [...]
Contributions from: Thanh Evoniuk, CPA, CFP®, MSF, Vince Lee, CFP®, CPA, David McIntosh, CFP®
January 6, 2025
New Gifting and Contribution Limit Changes For 2025
There’s one thing we can always count on at the start of each new year — new contributions and gifting limitations from the IRS. As you begin your planning for the year ahead, we’ve highlighted some of the key 2025 changes to be aware of for retirement accounts, health savings accounts, and gifting. Individual Retirement [...]
Contributions from: Jay Winston, CFP®, CAP®
January 1, 2025
How to Avoid Surprises When Filing Your Tax Return
When the hard part of filing your tax return is over, it often feels like cause for celebration, and a relief to put behind you until this time next year! But depending on your unique circumstances, you may have seen the result of your filing and found yourself wondering “How did I get here?”. Maybe [...]
Contributions from: Thanh Evoniuk, CPA, CFP®, MSF, Vince Lee, CFP®, CPA
December 6, 2024
What the 2024 Election Could Mean for Your Taxes
Introduction As the dust settles on the 2024 elections, one of the most pressing questions for many families is how the Republican Party’s return to unified control of the White House and Congress will shape the future of tax policy. With the Tax Cuts and Jobs Act (TCJA) set to expire at the end of [...]
Contributions from: Anne Marie Stonich, CFP®, CPA
August 28, 2024
Year-End Tax Planning Tips
Before we know it, kids will all be back at school, the leaves will start changing, and then the holidays will be in full swing. In other words, the year-end is approaching quickly. Ahead of this, there are a few tax planning items to look at before 2024 closes out. Review this list for tips [...]
Contributions from: Katie Berntson, CFP®, Kevin Kepler
March 30, 2022
What Issues Should I Consider When Reviewing My Tax Return?
Whether you have a tax refund heading your way or you owe additional taxes with your return, you may be wondering “what can I do next year to reduce my taxes?” While the subject of taxes is fresh on your mind, this is a great time to review your income, deductions, and potential for savings [...]
Contributions from: Vince Lee, CFP®, CPA
November 30, 2021
Year-End Tax Planning in Light of Proposed Tax Changes
Update as of 12.19.21 With the end of the year rapidly approaching, the Build Back Better Act still faces significant disagreements in the Senate that appear likely to stretch into 2022. It remains to be seen what effect this delay will ultimately have on the tax changes included in the bill, but the longer that [...]
Contributions from: Anne Marie Stonich, CFP®, CPA, Vince Lee, CFP®, CPA, Ian Curtiss, CFP®, CFA®, CPWA®, ChSNC
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