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Monthly Archive for: ‘December, 2020’

  • Tax Form Pic

    How the New Stimulus Bill May Affect You

    On Monday, December 21st, the U.S. Senate and House of Representatives passed a bill that includes $900 billion in stimulus relief in an effort to help individuals and businesses during the ongoing COVID-19 pandemic. Here are a few highlights of the bill that may impact …

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    Year-End Charitable Planning Opportunities

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    As the end of the tax year approaches, it is worth spending a few minutes reviewing some of the changes that have been made in the tax laws surrounding donations to charities. In some cases, this guide will serve as a refresher regarding revisions made …

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    New Text Scam Related to Stimulus Payments

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    The IRS has warned taxpayers of a clever scheme by internet scammers to trick taxpayers into revealing their bank account information under the appearance of receiving the $1,200 Economic Impact Payment (EIP) that Congress authorized last Spring. Criminals are relentlessly using COVID-19 and Economic Impact …

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    IRA Opportunities During the Pandemic

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    As bad as it has been financially for many individuals, 2020 does provide some unique tax opportunities for those who have traditional IRA accounts. These range from converting traditional IRAs to Roth IRAs, retirees making larger-than-normal IRA withdrawals and the decision whether to take advantage …

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