In order to take advantage of the tax benefits, it is important to take a deeper look at HSAs and understand how they work.
The tax code gives preference to spousal beneficiaries with more choices and potentially more advantageous tax treatment of required distributions.
It is important to note there are some potential mistakes to be avoided when executing a backdoor Roth strategy.
Looking back may be the first step in moving forward on filing taxes for 2023. Some key tax documents have already started to arrive in emails and mailboxes, signaling it’s time to get ready for tax season. Taxpayers may want to view their 2022 return as they prepare for filing their 2023 return. One of
There is still time for sole proprietors to establish a retirement plan for 2023. And this year, some individuals may be able to contribute even more money, if they act before the tax filing deadline. Sole proprietors can establish a plan using a SEP IRA or an Individual 401(k) and make a retirement contribution for
The SECURE 2.0 Act, signed into law in late 2022, was a follow-up to the original SECURE Act passed in 2019. The bill included more than 90 different provisions scheduled to be phased in over several years. SECURE 2.0 introduced wide ranging changes to employer-sponsored retirement plans as well as IRAs. For 2024, there are
It is important to review charitable giving plans before year in order to meet deadlines for certain strategies.