News Items

May 31, 2022

Why you should consider opening a Roth IRA for your kids

A Roth IRA is a special retirement account that allows participants to receive tax-free income in retirement. There are no age restrictions; therefore, a child can […]
February 21, 2022

2022 Form 1099-K

Form 1099-K tracks payments you’ve received through a payment settlement entity, or PSE. That includes tracking payments made via: Credit cards Online payment services like PayPal […]
January 24, 2022

2022 Mileage Rates

The Internal Revenue Service has issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical […]
December 8, 2021

Tax Planning 2021

Please click the links below for our annual tax planning letters – and certainly let us know if you have any questions. Individual Tax Planning 2021 […]
November 2, 2021

Social Security wage base, COLA set for 2022

An increase from $142,800 for 2021, the wage base limit applies to earnings subject to the tax, known officially as the old age, survivors, and disability […]
October 18, 2021

Build Back Better Act

On September 15, the House Ways and Means Committee approved the tax provisions of the Build Back Better Act (BBBA), the legislation intended to implement President […]
August 3, 2021

Back-to-School College Tax Breaks for 2021

Are your children heading back to college campuses this fall? It may cost you more than it did for remote learning, but at least the tax […]
July 12, 2021

More Child Tax Credit Info

Recently, there were important changes made to the child tax credit that will benefit many taxpayers. As part of the American Rescue Plan Act that was […]
June 29, 2021

New Child Tax Credit Benefits for 2021

Most of you are aware of the basic rules for claiming children on your tax return.  However, for your 2021 tax year only, the American Rescue Plan […]