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Tax Insights

Tax-Saving Ways to Help Pay for College — Once Your Child Starts Attending

February 21, 2023

If you have a child or grandchild in college — congratulations! To help pay for the expenses, many parents and grandparents saved for years in tax-favored accounts, such as 529 plans. But there are also a number of tax breaks that you may be able to claim once your child begins attending college or post-secondary school.

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How the New Secure 2.0 Law May Affect Your Business

February 13, 2023

If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was recently signed into law. Provisions in the law will kick in over several years.

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Tax-Wise Ways to Save for College

February 6, 2023

If you’re a parent or grandparent with college-bound children, you may want to save to fund future education costs. Here are several approaches to take maximum advantage of the tax-favored ways to save that may be available to you.

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Secure 2.0 Law May Make You More Secure in Retirement

January 30, 2023

A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022.

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Renting to a Relative? Watch Out for Tax Traps

January 23, 2023

If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences.

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Choosing a Business Entity? Here Are the Pros and Cons of a C Corporation

December 27, 2022

If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major advantages and disadvantages of doing business as a C corporation.

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Strategies for Investors to Cut Taxes as Year-End Approaches

December 19, 2022

The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider making some moves to make the best tax use of paper losses and actual losses from your stock market investments.

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Five Steps to Take Now to Cut Your 2022 Tax Liability

December 5, 2022

It has been quite a year — high inflation, rising interest rates and a bear stock market. While there’s not a lot you can do about any of these financial factors, you may have some control over how your federal tax bill for the year turns out. Here are some strategies to consider executing before year end that may reduce your 2022 or future tax liability.

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Plan Now to Make Tax-Smart Year-End Gifts to Loved Ones

November 28, 2022

Are you feeling generous at year end? Taxpayers can transfer substantial amounts free of gift taxes to their children or other recipients each year through the proper use of the annual exclusion.

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