Insights: Tax Services

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Consider the tax advantages of investing in qualified small business stock

June 26, 2018

While the Tax Cuts and Jobs Act (TCJA) reduced most ordinary-income tax rates for individuals, it didn’t change long-term capital gains rates. They remain at 0%, 15% and 20%.  The 0% rate generally applies to taxpayers in the bottom two ordinary-income tax brackets (now 10% and 12%), but you no longer have to be in…

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The tax impact of the TCJA on estate planning

June 19, 2018

The massive changes the Tax Cuts and Jobs Act (TCJA) made to income taxes have garnered the most attention. But the new law also made major changes to gift and estate taxes. While the TCJA didn’t repeal these taxes, it did significantly reduce the number of taxpayers who’ll be subject to them, at least for…

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A midyear review should go beyond financials

June 19, 2018

Every year is a journey for a business. You begin with a set of objectives for the months ahead, probably encounter a few bumps along the way and, hopefully, reach your destination with some success and a few lessons learned.The middle of the year is the perfect time to stop for a breather. A midyear…

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Factor in state and local taxes when deciding where to live in retirement

June 5, 2018

Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision.   Income, property and sales taxChoosing a state that has no personal income tax may appear to be the best option. But that might not be the case once you…

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5 Common Mistakes Your Tax Return May Reveal

June 1, 2018

What does your tax return say about your financial situation? The paperwork you file each year offers excellent information about how you are managing your money—and the areas where it might be wise to make changes in your financial habits.    By taking the proper steps, your tax return will be transformed from a passive…

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Saving tax on restricted stock awards with the Sec. 83(b) election

May 29, 2018

Today many employees receive stock-based compensation from their employer as part of their compensation and benefits package. The tax consequences of such compensation can be complex — subject to ordinary-income, capital gains, employment and other taxes. But if you receive restricted stock awards, you might have a tax-saving opportunity in the form of the Section…

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Sending your kids to day camp may provide a tax break

May 23, 2018

When school lets out, kids participate in a wide variety of summer activities. If one of the activities your child is involved with is day camp, you might be eligible for a tax credit! Dollar-for-dollar savingsDay camp (but not overnight camp) is a qualified expense under the child and dependent care credit, which is worth 20%…

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What You Need to Know About the Incoming Tax Law

May 15, 2018

The tax reform legislation that Congress approved earlier this year was the largest change to the tax system in over 3 decades. The last time the U.S. tax code saw such a significant reform was under President Reagan in 1986. Those reforms sought to simplify income tax, broaden the tax base and eliminate many tax…

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Be aware of the tax consequences before selling your home

May 15, 2018

In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the tax consequences. Home sale gain exclusionThe U.S.…

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Get started on 2018 tax planning now!

May 1, 2018

With the April 17 individual income tax filing deadline behind you (or with your 2017 tax return on the back burner if you filed for an extension), you may be hoping to not think about taxes for the next several months. But for maximum tax savings, now is the time to start tax planning for…

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