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.

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 $1,600 child
tax credit you have received previously will end.
Recently, senior lawmakers announced a bipartisan tax agreement that
boosts for the child tax credit for 2023, which could affect
taxpayers this filing season.
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.

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.

Excerpts from Our Tax Tips & News Pages

10 New Tax Filing Changes for Mass Residents

Tax Cuts passed by the Massachusetts legislature in 2023 are providing some important changes for taxpayers in the state. to Top 3 of importance for personal filers are: Decrease of the Tax Rate Applicable to Short-term Capital Gains  Increase to the Circuit...

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The Latest Upates for RMDs

After putting money away for retirement throughout your working life, it's easy to understand why you might not be in the mindset of knowing when and how much you are required to start taking back out of those accounts down the road. Here's what you need to know about...

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Countdown to Tax Day








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