News and Guidance for the 2023 Tax Season

Understanding intricate tax laws that are forever evolving can be very challenging. Even though it’s no walk in the park, it’s vital to account for potential tax impacts when making financial decisions. The Internal Revenue Service (IRS) annually revises the standard deduction and income tax brackets to account for inflation. In 2022, the inflation rate […]

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The SECURE 2.0 Act Provides New Retirement Savings Options in 2024

In December 2022, the SECURE 2.0 Act was enacted, introducing major amendments to retirement savings-related tax legislation in the United States. Some of these changes took effect in 2023, while others were scheduled for 2024. Changes and New Retirement Saving Features of Secure 2.0 There are many changes and new clauses brought into being brought […]

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Transfer Your Clean Vehicle Tax Credit to Car Dealership as Payment on a Vehicle

From 2024 onwards, there could be a provision for you to irreversibly to assign your new and pre-owned clean vehicle tax credits to participating dealers. In return for this credit transfer, you will receive an equivalent financial gain from the dealer. Payments for Vehicles through Clean Vehicle Tax Credit Transfers to Dealerships Federal tax credits […]

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Helpful Year End Tax Tips for 2023

As the year draws to a close, it’s crucial to carefully consider your potential tax strategies. 1. Postpone Income Until 2024 If you anticipate being in a lower tax bracket next year, consider delaying some income until 2024 to help lessen tax burdens in 2023. This could be achieved by postponing a year-end bonus or […]

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Be Vigilant of Student Loan Repayment Frauds

Be Vigilant of Student Loan Repayment Frauds The Supreme Court in June dismissed President Biden’s proposal to waive up to $20,000 in federal student loan debt for eligible borrowers. Consequently, millions of borrowers who had a grace period of three and a half years are expected to resume their loan repayments starting from October. There […]

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Taking Advantage of the Home Energy Audit Tax Deduction

Taking Advantage of the Home Energy Audit Tax Deduction If you’re planning to make home improvements that will save energy, it may be beneficial to conduct a home energy audit. Thankfully, a federal income tax credit is available that covers 30% of the cost of the home energy audit, up to an annual limit of […]

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What is a Financial Planner?

What is a Financial Planner? A financial planner will bring together all the pieces of your financial life to help you reach financial goals. From budgeting, to planning for retirement, to saving for education, to managing taxes and insurance coverage, a financial planner can empower you with knowledge to take control of your financial well-being. […]

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Top 5 Things You Need to Teach Kids About Money

What if there was mandatory money instruction for every child in America from kindergarten on up and every adult was required to take an annual test confirming those concepts well into their senior years? It’s a nice fantasy. But in reality, the first money lessons a child gets come from their parents, and experts agree that the […]

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