How Many Roth Conversions Can I Make Annually?
A Roth IRA is an excellent retirement savings option for many people. It is also possible to convert non-Roth savings into a Roth account, but as with all financial moves, there are caveats to this strategy. So, how many Roth conversions can you make annually, and what should you consider before going through with them? […]
Tax Reduction Strategies for High-Income Earners
Paying taxes is a part of life, but without careful attention, you could be paying more tax than you need to. You’ve worked hard to amass your net worth, and tax-saving strategies are essential. High-income earners can save money with many tax-saving strategies, but knowing which suits your situation is vital to make the right […]
It’s Time to Plan Your 2020 Tax Moves!
Written by Rick Huff If you are at least age 70 1/2 and you have an IRA, you can REDUCE YOUR TAXES by making charitable contributions directly from your IRA. As Halloween passes in the rearview mirror, college basketball is starting, cooler weather is driving us to warmer clothing, and we’re getting ready […]
Education Improvement Scholarship Tax Credits
Written by Rick Huff Most of us are aware there are obscure, little-known tax provisions that we’re probably not taking advantage of. Some of us even wish we knew more about various tax intricacies so we could keep more of our dollars from going to our friends at the federal and state treasuries. There is […]
“Simple” Tax Update
Written by Rick Huff Charitable Contributions, Required Minimum Distributions and the Standard Deduction In the past many advocated the importance of getting an early start with tax planning for the New Year. With the passage of The Tax Cuts and Jobs Act of 2017, they are now saying it is imperative as there are so […]
Your Tax Return May Not Be Perfect
Written by Stacie Rhodes How do you know your tax return is accurate? How do you know if you are taking advantage of tax saving opportunities? What if you could have saved more in your retirement account and paid less in taxes? What happens if there was a mistake on your return? You don’t know […]
After Tax Contributions
Written by Rick Huff This Is Big – Really Big Every so often, situations arise that provide tremendous opportunities to both save and reduce our taxes. Far too often we gripe about taxes, the complexity of the tax code, and the fact that we have to pay taxes at all. Instead, we should […]