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Another Last Minute IRA Tip: Helping The Stay-At-Home Spouse Keep Up

For non-working spouses, it’s often a case of “out of sight, out of mind.” And what’s forgotten is their own retirement security. Once the non-working spouse is out of the workforce, they usually neglect to fund their own retirement accounts. Many people don’t realize that even if you are not holding down a job, you are eligible […]

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Last Minute IRA Tip: Don’t Let Divorce Derail Your Retirement

Here’s a last minute IRA tip that can help you stay on track for a comfortable retirement: Many divorced people who are receiving alimony neglect to fund their IRAs every year. That’s a mistake, because putting money aside each year into your Traditional or Roth IRA can help you keep your retirement savings on target, and […]

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tax season plunder

Timely Tax Tips To Keep You De-Stressed During Tax Season

It’s tax season again! Here’s some helpful tips for clients that we hope will make the season less stressful: Due to local holidays in some regions, you have a few extra days to file your taxes and to make IRA and Roth retirement contributions. The tax deadline this year is Tuesday, April 18, 2017. If you’re a candidate […]

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Start The New Year Right: Preparing For The Tax Changes Ahead

With the new Trump administration coming on board, we’re likely to see big changes in income taxes before the year is out. Here’s a quick cheat sheet of what you might expect: Details still uncertain. We don’t know yet which – if any – of Trump’s tax reform proposals will be adopted. Republicans in Congress […]

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Last Minute News From Our Workshop

Like the elves in Santa’s workshop, we’ve been working hard to make sure everyone is ready for the 2016 year-end and well-positioned for the 2017 New Year. Here’s what that means: Taking your full Required Minimum Distribution (RMD) for the year from your IRA and other retirement accounts, so you can meet IRS requirements. Reviewing capital gains […]

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Sigh. Another Day, Another Tax Form

Doesn’t it seem like every single day you receive some kind of tax reporting form in the mail? It’s a never-ending flow of paper that stems from the IRS’ ever more complicated tax reporting rules (which originates, of course, in Congress’ ever more convoluted tax rules). Many of our clients are now receiving Form 5498 […]

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Warning! Florida “Top 10” State For IRS Tax Audits

You’ve been warned. just announced its annual  ranking of the states with the highest chance of IRS tax audits. The good news? Florida is not at the very top of the list. The bad news? We’re still in the top 10. Which taxpayers have the highest likelihood of being audited by the IRS? Residents of Vermont […]

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city shore april 2016

Why Tax Planning Should Last Year-Round

“It’s April, and you’ve just filed your 2015 federal income tax return.  You’re no doubt breathing a sigh of relief, thinking, “I don’t have to deal with this again until next year.” “Sorry, but no.” That’s Robyn Friedman, writing in April’s City & Shore Magazine, making the case for why tax planning should be a […]

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Got Plans For That Tax Refund?

Expecting a tax refund? This year, the average tax refund is estimated at just shy of $3,000 ($2,900 to be exact). Here’s 5 great ideas on how to put that refund to best use: Pay off credit card debt. “Using your refund to pay off a balance with an 18% interest rate is like earning […]

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Warning! Do You Know Which Online Tax Prep Services Could Be Putting Your Security At Risk?

If you use a free online tax prep service to file your tax returns, you could be at risk for identity fraud. Six out of 13 online tax prep services audited by the global nonprofit Online Trust Alliance failed cybersecurity tests, meaning they could be putting your privacy and security at risk if you use them […]

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