7 Last Minute Tips to Reduce Your Tax Bill

Slash your 2021 taxes

The deadline for most taxpayers to file their 2021 returns is April 18th this year. The number of opportunities to slash your tax bill drops off dramatically once the calendar year comes to a close, but there are still a few tried and true ways to get your taxable income down now before you file. […]

The NIIT-y Gritty of the Net Investment Income Tax

Man working on financial papers

The Net Investment Income Tax (NIIT) has been around since 2010, and it applies to investors who have high incomes and healthy investment account balances. It applies regardless of whether you are working or are retired and covers a broad range of assets classes. But since retirees often rely on withdrawals from investments to generate […]

Retirement Is About Income … and Taxes

Retirement and Taxes

You’ve figured out your budget, your retirement nest egg is substantial, and you’re ready to make the transition to living savings instead of income from work. Have you thought through the tax implications of moving from a W2 to a 1099R? It’s very common for tax planning to be overlooked. After all, the common wisdom […]

How the Biden Tax Plan Would Work

Oct 22, 2020       Matt Bacon Democratic presidential candidate Joe Biden is proposing sweeping changes to the tax code. The Biden Tax Plan would work to undo many of the Republican-backed tax cuts that were signed into law in 2017 as part of the Tax Cuts and Jobs Act (TCJA). This will result in higher taxes […]