2021 Tax Preparation Checklists Now Available

Help yourself (and us!) make tax preparation easier by using these handy Checklists to pull together your tax materials for 2021. With another year of tax law changes and new programs, these Checklists will ensure you’ve got everything you need to file.

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2022 Calendar: Know Your Tax Dates & Deadlines

2022 Calendar: Know Your Tax Dates & Deadlines

We will be developing a new checklist to help you pull together your tax preparation materials for 2021. We hope to have that ready in our next newsletter. Until then, please take note of these important tax-related dates for the new year:

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Don’t Forget to Take Your RMD by Dec. 31

Don’t Forget to Take Your RMD by Dec. 31

December 31 is the deadline to take your required minimum distribution for 2021. The RMD is the minimum amount you must withdraw from your retirement plan account annually starting with the year you reach 72 (in most cases). RMD amounts not withdrawn on time may be subject to penalties.

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Retirement and Taxes: Understanding Your IRA

Retirement and Taxes: Understanding Your IRA

Retirement may be closer than you think — especially if you’re saving money now just for that purpose. An Individual Retirement Arrangement (IRA) can be a smart way to save because it provides tax incentives to help you on your path. And IRAs are easy to set up with a bank or other financial institution, a life insurance company, a mutual fund or a stockbroker.

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Do You Qualify for a Home Office Deduction?

Do You Qualify for a Home Office Deduction?

While you may be working from home due to the pandemic, you do not automatically qualify for a home office deduction. For example, if you work as an employee for a company (that’s not yours), you generally cannot claim the home office deduction.

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Tax Benefits Expanded for Your 2021 Charitable Donations

Tax Benefits Expanded for Your 2021 Charitable Donations

The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted last December, provides several deductions for individuals and businesses who give to charity. The law generally extends — through the end of 2021 — temporary tax changes originally enacted by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Here’s what you need to know:

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