Do you make charitable contributions to your church and how do you make those charitable contributions?  Do you write a check from your checking account or contribute cash? Did you know there is a way to make that contribution from your IRA and it is tax free? It is called a Qualified Charitable Distribution ( QCD )…

When do you pay taxes on your investment accounts?  Well…. it depends.  : ) For retirement accounts, like a 401k or IRA, you pay taxes on the money when you take money out of the account, i.e. a “distribution”.  And, you pay ordinary income tax rates on the amount you take out.  This rate is…

You might have heard the acronym “RMD” and you weren’t quite sure what that meant.  You think it has something to do with your investments, but something you have to do down the road when you were older.  You’re right on both accounts.  RMD stands for “Required Minimum Distributions.”  This is the amount of money the…

Tax laws change all the time and many people don’t realize what has changed.  It’s our job to help you understand those changes and what it means for your family. With the “Tax Cuts and Jobs Act” of 2017, the STANDARD DEDUCTION basically doubled allowing many people to lower their taxable income in a meaningful…

It’s never fun to learn you owe more taxes in April.  The problem is that this can be prevented with a little tax planning.  Here’s what to look for – Check to see how much Federal and State withholding is being taken out of your paycheck.  If the percentage is much lower than your marginal…

Business owners want as many tax deductions as possible, and it’s important we document the ones that qualify.  There are often a lot of questions around whether or not meals can be deducted.  The business meal tax deduction for 2025 varies depending on the type of meal expense and specific circumstances.  Here’s what you need…