August 31, 2020

Charitable Contribution: Ultimate Tool to Kill Two Birds with One Stone

A charitable contribution is a donation or gift to, or for the use of, a qualified organization. You may deduct charitable contributions of cash made to qualified organizations if you itemize your deductions. Deduction on charitable contributions are reported on Schedule A. (Itemized Deductions) The Tax Cuts and Jobs Act (TJCA) increased the annual contribution limits for cash gifts to public charities from 50% to 60%.
September 30, 2020

How Does Each Retirement Plan Affect Your Taxes?

As of 2019, the average monthly Social Security payment is $1,422 and you will most likely need more than that to live comfortably during your retirement. Retirement saving is a top priority for many savers and the earlier you start, the less money it will take. But which retirement account do you open and contribute to? There are many different types of retirement plans and the tax benefits vary greatly.
October 31, 2020

Qualified Opportunity Zones: A Gift that Keeps on Giving

2017 Tax Cuts and Jobs Act created Qualified Opportunity Zones (QOZ) to provide tax benefits to investors who invest eligible capital gains into designated economical distressed communities. To date, over 8,700 low-income communities have been designated as QOZs. A list can be found at
December 30, 2020

Seven Tax Strategies Everyone Should Know

Without carefully developed tax strategy, individuals run the risk of missing out on key tax benefits and paying more taxes than necessary. Tax planning may be low on your list of favorite financial chores, but it’s one of the most important tasks to save your hard-earned money. The number one question we get during the holiday season from our clients is “What can I do to lower my tax bill before the year-end?”.
Contact Us
close slider