Important Information on Unreceived Stimulus Payments: For Non-Filers and Those Eligible
As we move into the 2020 tax filing season, I know that there are many questions related to missing or partially received Economic Impact Payments (EIPs), also known as stimulus payments. If you were eligible…
Keeping vital records safe can make disaster recovery easier
Natural disasters can strike without warning. Sometimes even the most diligent taxpayers are left without the important personal and financial records they need. People may need documentation for tax purposes, federal or state assistance programs…
Taxpayers should review the 401(k) and IRA limit increases for 2023
The amount individuals can contribute to their 401(k) plans in 2023 will increase to $22,500 — up from $20,500 for 2022. The income ranges for determining eligibility to make deductible contributions to traditional IRAs, contribute…
Tax tips for new parents
Kids are expensive. Whether someone just brought a bundle of joy home from the hospital, adopted a teen from foster care, or is raising their grandchild. There are several tax breaks that can help. Here…
What teachers should know about deducting out-of-pocket classroom expenses
Now that fall is here and school has started, many teachers are dipping into their own pockets to buy classroom supplies. Doing this throughout the year can add up fast. Fortunately, eligible educators may be…
Check “Get My Payment” for status of third EIP and watch the mail
The IRS continues to issue the third round of Economic Impact Payments to eligible individuals, with payments being issued as a direct deposit or by mail as a paper check or prepaid EIP debit card. No action…
Review Your Taxes This Summer to Prevent a Surprise Next Spring
Each year, many people get a larger refund than they expected. Some find they owe a lot more tax than they thought they would. If this happened to you, review your situation to prevent another…
How the CARES Act changes deducting charitable contributions
Whether you are supporting natural disaster recovery, COVID-19 pandemic aid or another cause that’s personally meaningful to you, your charitable donations may be tax deductible. These deductions basically reduce the amount of your taxable income….