• The Inflation Reduction Act

    The Inflation Reduction Act (IRA) passed by Congress in 2022 may have opened a unique opportunity to lessen the burden of home renovations and upgrades. The ten-year plan to counteract inflation and emphasize […]

    Published On: February 22, 2023Categories: Economy, Taxes

  • Tax Changes For 2023 – Tax Planning

    In 2022, inflation eclipsed 9% and reached 40-year highs as food and gasoline prices exhibited continuous spikes. Many consumers reported consistently feeling that their paychecks did not go as far as they used […]

    Published On: January 18, 2023Categories: Taxes

  • IRS Raises 2023 Tax Brackets due to Inflation

    The Internal Revenue Service (IRS) controls the adjustments of tax brackets and standard deductions, and annually makes tax code adjustments based on the cost of living factors, congressional demands, and inflation. The adjustment […]

    Published On: November 11, 2022Categories: Taxes

  • Tax On Social Security In Retirement – Retirement Tax Planning

    A prudent and effective tax strategy during your employment years will mostly likely need to be modified in retirement. Once earned income ceases and income from retirement plans, investments, and Social Security commences, […]

    Published On: April 11, 2022Categories: Financial Planning, Taxes

  • IRS Introduces New Tax Brackets & Standard Deductions For 2022

    Heading into the new year, the recent higher than expected inflation numbers will also be affecting tax rates for everyone. The IRS has adjusted 2022 tax brackets to reflect the most recent inflation […]

    Published On: December 9, 2021Categories: Taxes

  • Year-End Tax Planning For Cryptocurrency Transactions

    As millions of investors dabbled in cryptocurrency this past year, the IRS has heightened its surveillance of transactions in order to tax gains. The pending infrastructure bill in Washington, Build Back Better, contains […]

    Published On: December 7, 2021Categories: Taxes

  • Tax Repercussions Of The Child Tax Credit

    This past month, around mid-July, millions of Americans received a tax credit deposit to their bank accounts. This was a surprise for many, yet part of the pandemic relief program that slated billions […]

    Published On: August 11, 2021Categories: Taxes

  • Stimulus Bill Provisions For Individuals – American Rescue Plan Act of 2021

    Economic Impact Payment (EIP) of $1400 per individual with an Adjusted Gross Income (AGI) of up to $75,000 based on 2019 tax returns or 2020 returns if already filed. EIPs for qualifying dependents […]

    Published On: April 13, 2021Categories: Economy, Government/Municipal, Taxes

  • Where Anticipated Tax Hikes May Hit – Tax Planning

    While the three stimulus programs amount to over $4.5 trillion were mostly funded by government debt, the recently introduced $2.25 trillion infrastructure plan will be primarily funded by tax increases. Preliminary indications are […]

    Published On: April 13, 2021Categories: Taxes

  • Taxpayer Scam During Tax Time

    The IRS has issued an alert regarding scam phone calls directly to taxpayers nationwide. The calls may be in person or via ‘robocalls’. Scammers claim that delinquent taxes are owed and that payment […]

    Published On: March 20, 2021Categories: Taxes