529 Plans: Refunds for University Expenses
In response to COVID-19 restrictions, some universities are issuing partial refunds for the semester. These refunds could be associated with expenses such as room & board, meal plans, and/or tuition. A complication exists if a withdrawal was made from a... Read More →
CARES Act Retirement Plan Considerations and Benefits
As part of the federal economic response to the COVID-19 crisis, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was put in place. Below are some provisions of the Act that may impact an individual’s retirement and tax... Read More →
New 2020 Tax Reference Guide
We have updated our Tax Reference Guide for the 2020 tax year. Highlights of new tax limits include: New Elective Deferral limits to 401(k), 403(b) & 457 plans Below age 50 – $19,500 Age 50 and over – $26,000 New... Read More →
Qualified Charitable Distributions from IRAs
Jay H. Krall, Attorney at Law Making Qualified Charitable Distributions (“QCDs”) from IRAs is a great way to reduce your taxes while achieving your charitable giving goals. Unlike traditional gifts of cash or stock to charities, QCDs don’t create a... Read More →
New RMD Rules
The recently passed SECURE Act has implications for owners of retirement accounts. The two changes included in the act that would most affect our clients are changes in the age at which required minimum distributions (RMDs) must begin, and how... Read More →
Cell Phones & Location Tracking
Taking Control of Your Information Smartphones are a convenience to our everyday lives, but they can also serve as a sophisticated tracking device that allows companies to obtain information about our specific location. This information sharing through location tracking may... Read More →
Annual Tax Reference Guides
View our Tax Reference Guides for previous tax years along with our updated guide for the 2020 tax year. Contact our office with any questions you may have. 2020 tax year 2019 tax year 2018 tax year
Personal Records Retention Policies
Good recordkeeping can make your life easier. While record retention policies are often geared towards businesses, your personal files should also be kept safe and well organized. When creating your retention policy, you should consider state and federal statutes of... Read More →
Keep Your Credit Safe
A credit freeze, also referred to as a security freeze, allows you to restrict access to your credit report. Once a freeze is in place, creditors cannot access your credit score and detailed reports of your credit cannot be released,... Read More →
Power of Attorney Considerations
If you have not already done so, you may want to consider empowering someone to act on your behalf with regard to your assets. Also, you will want to consider the extent and conditions of the authority you may confer.... Read More →