Important Tax Deadlines
2026 individual quarterly estimated Federal tax payments are due June 15, 2026, September 15, 2026, and January 15, 2027 for the remainder of the tax year. The extended S corporation and partnership business tax deadline is September 15, 2026 and the extended individual and C corporation tax deadline is October 15, 2026. In order to […]
As the IRS Updates Their Technology and Procedures, Taxpayers May See an Increase in Notices Issued
For a period of time, IRS activity felt quieter. Response times were longer. Enforcement felt less visible. Fewer taxpayers were hearing from the IRS directly. Many people got used to that environment. Now things are shifting. Not all at once, but steadily. More notices are being issued. More requests for clarification are being sent. More […]
Important Tax Information And Strategies To Help Understand The Kiddie Tax Code
“Kiddie Tax” is a term that refers to the tax imposed on the unearned income of children. It was Introduced as part of the Tax Reform Act of 1986. The Reason Behind Kiddie Tax – Its primary purpose is to prevent families from exploiting a lower tax rate by shifting income to their children to […]
If You Are Thinking About Selling Your Life Insurance Policy, Consider These Potential Tax Issues Before You Do
When watching television, you’ve probably seen those advertisements promising quick cash for unneeded life insurance policies. These commercials often target those who might not see the need for policies anymore, offering substantial financial returns. While these transactions can indeed serve as a financial option, especially for those in need of immediate liquidity, the process of […]
Potential Tax Benefits From Medically Related Home Improvements
The year 2025 marked a significant milestone in the United States. Why? Because a record number of people reached the age of 65. On average about 11,400 Americans turned 65 every day of the year 2025. This demographic shift, largely driven by the baby boomer generation, has implications for retirement planning, healthcare, and the economy […]
Get Ready for the New 1099-DA Cryptocurrency Reporting Requirements
Qualified Charitable Distributions (QCDs) are a highly effective tool in the tax planning toolkit, particularly for retirees who must take Required Minimum Distributions (RMDs) from their Individual Retirement Accounts (IRAs). By directing a portion or all of an RMD directly to a charity, taxpayers can potentially reduce their taxable income significantly, yielding multiple tax advantages.
Pension Catch-up Contributions
Qualified Charitable Distributions (QCDs) are a highly effective tool in the tax planning toolkit, particularly for retirees who must take Required Minimum Distributions (RMDs) from their Individual Retirement Accounts (IRAs). By directing a portion or all of an RMD directly to a charity, taxpayers can potentially reduce their taxable income significantly, yielding multiple tax advantages.
Make Sure Your Tax Filings Are Mailed on Time
This January, the Social Security Fairness Act (SSFA) was signed into law, repealing the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These repealed provisions had previously reduced Social Security benefits for some public-sector…
How to Benefit From Qualified Charitable Distributions (QCDs)
Qualified Charitable Distributions (QCDs) are a highly effective tool in the tax planning toolkit, particularly for retirees who must take Required Minimum Distributions (RMDs) from their Individual Retirement Accounts (IRAs). By directing a portion or all of an RMD directly to a charity, taxpayers can potentially reduce their taxable income significantly, yielding multiple tax advantages.