Death of the Stretch IRA! by Stan Corey In December 2019, Donald Trump signed into law new legislation called “Setting Every Community Up for Retirement Enhancement” (HR 1994) or the “Secure Act.” There has been very little publicity about this, and only now are banks, brokerage firms, and some estate-planning law firms sending communications of Read more
The Internal Revenue Service has rolled out a simpler, shorter version of the standard 1040 Form for those 65 and older. Using enlarged typeface and no more shaded boxes that are difficult to see, this new 1040 SR is intended to help Silver Sagers report social security and retirement benefits from qualified plans and annuity Read more
3 Possibilities for Extra Tax Deductions! by Stan Corey In just a few more weeks, the tax man cometh! Have you already filed your return? Are you expecting a refund? Or are you delaying because you have to write a check? A question I often get is: Are there any tax deductions I can take Read more
Top 5 Ways to Choose an Accountant by Tracy E. Hill, Ph.D. As we get closer to tax season, the idea of choosing an accountant comes to mind. If you’ve been doing your own taxes for a while, are a small-business owner, or just looking to make a change, finding the right tax accountant could Read more
What is your Effective Federal Income Tax Rate? by Stan Corey One of the tricky things to understand about income taxes is what your actual tax rate is. In most cases people tend to refer to their “tax rate” as being the “tax bracket” they are in. For 2018, the tax brackets start at a Read more
New Tax Law’s Effect on You Written by Rodney K. Reynolds, CPA Since the recently enacted Tax Cuts and Jobs Act (TCJA) doesn’t go into effect until 2018, your taxes for 2017 will follow the old tax code. However, now that you’re thinking about taxes during this time, here’s what you need to know going Read more
