Category Archives: Blog

Tips for Setting Smart Financial Resolutions in 2020

financial resolutions

With 2020 just getting underway, many people are setting personal goals to get in shape, eat healthier and find ways to sneak in some more zzz’s. Let’s not forget the importance of setting financial resolutions critical for improving both short-term … Read More

House Retirement Savings Bill – SECURE

House Retirement Savings Bill - SECURE

By an overwhelmingly bipartisan vote of 417-to-3 on May 23rd of this year, the U.S. House of Representatives passed the Setting Every Community Up for Retirement Enhancement (SECURE) bill of 2019. SECURE then moved to the Senate for a vote … Read More

It’s the Most Wonderful Time of the Year (for giving)!

Gift giving

Tis the season of giving gifts and putting a smile on the faces of those you care for.  If you are thinking of giving a substantial monetary gift, you should be aware of the tax implications beforehand.

Gifting Money

Up … Read More

2020 Contribution Limits for IRAs and Retirement Plans

New inflation-adjusted limits for 2020 IRA and retirement plan contributions have been released by the IRS. Contribution limits have risen slightly for 2020, and income thresholds have increased as well. If you want to begin planning for your 2020 contributions … Read More

What to do with your Bonus? – Year End Tax Planning $$

bonus tax planning

Congratulations on your bonus! As 2019 comes to a close, many employees will be receiving a supplemental wage or cash bonus at year-end. Before you start thinking about what you are going to spend it on i.e. holiday gifts, there … Read More

Look Back on 2018 Tax Filing Season and 2019 Year End Planning

tax planning

As 2019 has entered its final two months, most taxpayers have already filed their 2018 income tax returns.  Those taxpayers residing in Harris County and surrounding counties were given until January 31, 2020 to file their 2018 returns, due to … Read More

Spring Tax Cleaning

tax penalty refund

Over half of the month of May is behind us and for many of you, that means it has been over a month since you thought about the filing of your 2018 federal income tax return. For those of you … Read More

RMDs & Other Important Retirement Acronyms

RMD

Have you ever asked the age of a young child whose fifth birthday is in his rear view mirror? Because that child eagerly looks forward to attaining the age of 6 years old, she may tell you she is 5 … Read More

THAT TIME OF YEAR – PART IV

QBI Deduction

When Congress passed the Tax Cuts and Jobs Act (“TCJA”) in late 2017, it dramatically reduced the income tax rates paid by corporations to a flat rate of 21%. In an attempt to equalize those non-corporate taxpayers, Congress enacted new … Read More

THAT TIME OF YEAR – PART III

tax withholding AMT

If you have ever heard of the Alternative Minimum Tax (AMT), you know it has been a major issue for decades.  Many taxpayers found themselves paying a substantial alternative minimum tax, despite legitimate deductions that would ordinarily subject them to … Read More

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