What Is the Net Investment Income Tax and Is Your Accountant Handling It Correctly?
Is your accountant handling the Net Investment Income Tax correctly? After 40 years, Drew Tignanelli says many aren't. Here's what to look for.
Retirement Tax Planning Mistake: A Hidden $10,000 Missed-Deduction Surprise
By Graham Ewing, CFP®, MBA, Director of Financial Planning Standards A couple came to our office not long ago with a straightforward goal: make sure they were ready to retire. The husband was considering retiring soon, the wife planned to…
Top 10 Tax Planning Tips for 2026
Ready to make 2026 your most tax-smart year yet? Our latest article discusses 10 practical steps to help you reduce your tax liability, maximize savings, and plan with confidence
The 5-Year Roth IRA Rule
Most people know that Roth individual retirement accounts (IRAs) have a “5-year rule,” that is, you must have owned your Roth IRA for at least 5 years and be over the age of 59.5 years to withdraw earnings tax-free during…
To Extend or Not to Extend?
It seems every year most people want to have their taxes filed by April 15th, and nobody wants to file an automatic, no questions asked extension till October 15th. It seems to us as many feel they are doing something…
The Confusion of Mortgage Interest Deductibility
When clients provide me with a mortgage interest statement, they assume that all of the mortgage interest will be tax-deductible. This assumption was somewhat true under the tax laws before 2018, but since 2018, it will be true only on…
Charitable Giving in Light of the New Tax Law
There is a new tax law that has changed everything for a while. One of the biggest changes is the new expanded standard deduction and the elimination of many itemized deductions. Before we discuss these changes, a good understanding of…
The Tax Withholding Paradox
It is true that most people will see their income tax rates lowered in 2018, but is it possible that despite having their rates lowered, some may actually owe more in income tax? The answer, unfortunately, is yes, given that…
The Most Underused Benefit in the IRS Tax Code
The IRS Tax code is not typically known for offering a free lunch. However, there is one type of account out there that many people have heard of but don’t fully understand how beneficial it can be. The Health Savings…
Tax Preparation Versus Tax Planning
When having your taxes prepared—whether by using a tax program or a tax preparer—the expectation is to end up with the lowest tax bill possible. Unfortunately, such an expectation may be inaccurate. Most tax programs and tax preparers take data…