It is wise to get an early start on tax filings. This is particularly true in the wake of the recent Equifax breach. A recent piece by CNBC notes the massive leak of confidential consumer information could result in an increase in tax fraud — a process when fraudsters use tax payer’s information to get their taxcontinue reading…
New tax law will impact 529 account holders
The Tax Cuts & Jobs Act has resulted in a number of changes to the normal operation of tax law in the country. One specific area that has changed: the impact of taxes on 529 plans. What are 529 plans? Officially known as “qualified tuition plans,” 529 plans are savings plans that offer various tax benefits.continue reading…
How do taxes impact retirement savings?
Preparation for retirement is a marathon, not a sprint. It is important to address a range of different issues to help better ensure a stable financial foundation when enjoying one’s sunset years. One important area to take into consideration involves tax obligations. Taxes generally impact retirement accounts in one of three ways: Before investment. Some accountscontinue reading…
Taxes after adoption
Families throughout the country have grown through the use of adoption. Adoptive parents must take many practical matters into consideration, from the logistics of school districts to the potential headaches that can come with tax filings. Does adoption impact adoptive parents’ tax returns? The addition of a family member into one’s household will directly impact thecontinue reading…
New tax law causing headaches? Three tips for employees.
President Donald Trump made due on his promise. Congress got a proposed tax law onto his desk before the end of the year. He signed it. Now taxpayers are trying to get a better idea of how the law will impact their tax returns. A recent piece in Forbes notes that whether or not individual tax payerscontinue reading…