Kids Turning 17?

There are many milestones and life changes that can affect your tax returns.
For instance, if you have a dependent child turning 17 this year, the $2,000 child
tax credit you have received previously will end.
It’s always a good idea to review your tax situation well in advance of the end
of the year to determine if there are any changes that may affect your return.
Feel free to contact us for an appointment.

Unreimbursed expenses?

Get out your wallet. Did you know that employees can no
longer deduct unreimbursed work-related expenses?  There are a few
job category exceptions, but you might want to see what’s been
eliminated before you enroll in that professional development course.
See our Tax Tips & News post for more.

Head of Household or Single filing status?

Many single parents can claim Head of Household and receive a much better
tax benefit by having a dependent child. However, when your child is no
longer your dependent your filing status changes to Single. Unfortunately,
that translates to a smaller Standard Deduction and higher income tax rates.
Let us know if you’d like to review your personal situation.

The IRS didn't call you.

The truth is, the IRS will never call you to demand payment and threaten legal action, but this scam frightens people into giving their money to criminals.

Find out more about this and other IRS scams on our Tax Tips & News page.

Retirement Cash Strategy

Did you know an extra IRA distribution could reduce the amount of your Social Security benefit?

It’s surprising but true. We explain how it can happen on our Tax Tips & News page.

Have you checked out 360 yet?

We found this incredible website that we want to share with you!

360 Degrees of Financial Literacy features straightforward language and easy-to-use calculators for everything from student loans to retirement planning.

Excerpts from Our Tax Tips & News Pages

Our Office is Closed until Further Notice

In the past two days, there have been siginificant changes that affect our business. On Saturday, March 21, the IRS announced an automatic three-month extension for filing income taxes, to July 15, 2020. And just today, Governor Baker issued a statewide Stay-at-Home...

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Significant Changes for Retirement Savings in 2020

The New Rules in The SECURE Act that May Affect You Passed by Congress last spring, The SECURE Act (an acronym for the “Setting Every Community Up for Retirement Enhancement") was finally signed into law as part of the massive spending bill approved at year end. The...

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Tax Extenders Q & A: An overview of the 2019 Law

A number of significant tax provisions—many already expired—have been extended or reinstated through the end of Tax Year 2019. This is good news for millions of taxpayers, but as always, there are restrictions, caps, and qualifying factors that determine eligibility....

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Tax Questions to Consider Now

Tax season deadlines always arrive sooner than we’d like. You can help remove some last minute aggravation by asking yourself some simple questions in advance.

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Why Checking Your Paycheck Can Pay Off

One item to be aware of as we move into the new decade is the importance of checking your paystubs on a regular basis to ensure accuracy, particularly with regard to your withholding. A recent study has shown that most people receive their payroll check through direct...

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