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2018 Tax Code Changes: Simplification of Form 1040
A little over a year ago, the Tax Cuts and Jobs Act (TCJA) was passed which amounted to the biggest overhaul of the tax code in 31 years. With preparation of our tax returns looming, be ready for changes. Over the next few weeks, we will talk about some of these...
Stay Safe Online During the Holiday Season
This time of year, I am often asked how to save money on Christmas gifts and/or how to avoid overspending throughout the holiday season. As I was thinking about this topic and the various approaches that could be taken, I decided the first step could be to simply...
Happy Thanksgiving
As we approach the holiday season, I want to wish all of my friends, family, and clients a very Happy Thanksgiving. Let us all remember our blessings during this---and every---time of year and cherish every moment with those we love.
The Dangers of Outsourcing Your Tax Return
I read a disturbing article this week and immediately knew it was something I should address with my blog readers. The article, entitled Do You Know Who is Preparing Your Tax Return?, talks about how bigger tax preparation firms are outsourcing the preparation of...
Are Your Savings Up to Par?
How are doing on your savings plan? According to a recent survey by MagnifyMoney, Americans are still accumulating more debt than savings. While the median savings account balance is $4,830, 29% of American households have less than $1,000 in savings. The amount saved...
Making a Charitable Contribution? Here’s How it Will Affect Your Taxes
With the increase in the standard deduction under the new tax law, many taxpayers won’t need to complete Schedule A for itemized deductions. For those taxpayers who make charitable contributions and are still able to itemize, the IRS has requirements for what...
Is Your Tax Withholding Correct?
The IRS is strongly urging all taxpayers to complete a “Paycheck Checkup” to determine if their employer is withholding the correct amount of income tax. Due to the changes in the tax law, the withholding tables may not be working as in prior years. Major changes in...
Paying for College: College Savings
College can be a very stressful and draining endeavor—especially for those who have to pay for it! In our recent blog series, we’ve talked about different options to help make college more affordable including student loans, scholarships, and tax benefits. Our final...
What Students and Parents Should Know About Student Loans
As costs continue to rise, loans can be useful to help cover the price tag of college. However, students and parents need to understand the implications of each type of student loan to help avoid sticker shock after graduation. It is important to remember that loans...
Using Scholarships to Help Pay for a College Education
Paying for college can be incredibly stressful for families. In my series of blogs on reducing the cost of college, we’ve talked about using tax credits and tax benefits to help lighten the load. In this blog, we’ll talk about another avenue for reducing the cost of...
