It’s Not Too Late for an IRA Contribution

Most of the time an expense that may be tax deductible needs to be paid by the end of the year for which the expense will be claimed. However, there is an exception to that rule. IRA contributions for the prior year can be made after the close of the year if made by...

Time is Running Out to Take Your 2022 RMD

Required Minimum Distributions (RMD) are required taxable distributions from qualified retirement plans and are commonly associated with traditional IRAs, but they also apply to 401(k)s and SEP IRAs. The tax code does not allow taxpayers to indefinitely keep funds in...

Year-End Gift Giving with Tax Benefits

The holiday season is customarily a time of giving gifts, whether to your favorite charity, family members or others. Some gifts even provide a variety of tax benefits. But be wary; during the holiday season, you may receive phone calls, texts, emails, snail mail, or...