Lower This Year’s Tax Obligation
Lower This Year’s Tax Obligation Published: 05/22/2026 Now is a good time to assess your current situation and address any lingering tax moves that may improve your tax picture for 2026. Here are five things to consider: 1. Check your withholdings. Review your taxable income and the amount of tax you’ve paid to Uncle Sam so […]
Understanding the Gift Giving Tax
Understanding the Gift Giving Tax Published: 05/18/2026 In an effort to keep taxpayers from transferring wealth from one generation to the next tax-free, there are specific limits to the amount of gifts one may give to any one person each year. Amounts in excess of this limit are subject to filing an annual gift tax […]
Leveraging Your Children’s Lower Tax Rate
Leveraging Your Children’s Lower Tax Rate Published: 05/16/2026 If you’re a parent, your dependent children can be a source of tax savings. There are the well-known provisions in the tax code such as the Dependent Child Care Credit and the Child Tax Credit, but there’s also an opportunity to shift some taxable income to your […]
No Check! Where’s Your Proof?
No Check! Where’s Your Proof? Published: 05/14/2026 Prior to finalizing the filing of your tax return is a good time to ensure you have proper documentation to substantiate your tax deductions. This is important as many banks start deleting online documentation that is more than a year old. Background The use of paper checks is […]
Small Savings Goals for Summer That Teach Kids Big Lessons
Small Savings Goals for Summer That Teach Kids Big Lessons Published: 05/11/2026 Summer offers kids a rare window to see goals take shape quickly. With just a few months, even small savings plans can turn into something meaningful. Here are a few simple ways to get started. Choose something that matters A savings goal works […]
Kids Can Be Expensive! Here Are Some Tax Breaks to Help.
Kids Can Be Expensive! Here Are Some Tax Breaks to Help. Published: 05/08/2026 Once Congress and the Executive Branch decided the tax code was for more than collecting money to fund the government it opened the door to understanding how the rules impact parts of your situation. One of the most popular areas to understand […]
Five Small Business Insurance Review Tips
Five Small Business Insurance Review Tips Published: 05/06/2026 Changes in your business equipment, real estate holdings, the amount of inventory, and the number of employees are all good reasons to review your business’s insurance in addition to your annual review. Here are a few tips to keep in mind: Stay in contact with your insurance […]
Higher Student Loan Payments on the Near Horizon
Higher Student Loan Payments on the Near Horizon Published: 05/03/2026 The Department of Education recently announced that student loan borrowers who were awaiting loan forgiveness decisions will soon need to select a new repayment plan due to final determinations by the Supreme Court. Current Situation The SAVE Plan was a federal student loan repayment […]
Time to Create Your 2026 Tax Plan
Time to Create Your 2026 Tax Plan Published: 04/29/2026 Tax planning combines how much you think you will make, with the source (or how you make it), generating a tax effective result. This could make two clients with the exact same taxable income have entirely different looking tax bills. That’s the hard news. The good […]
10 Sources of Tax-Free Income
10 Sources of Tax-Free Income Published: 04/25/2026 Wouldn’t it be nice to have a source of nontaxable income? You may be more fortunate than you realize. Listed here are a number of income items that the IRS does not tax. 1. Tax-free interest. Municipal bond interest is tax-free at the federal level. This includes bonds issued by […]