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With 2020 coming to a close, we have published our annual guide to all the key numbers for 2021 and we review 2020 charitable giving strategies.

The CARES Act has special rules for required minimum distributions, coronavirus-related distributions, and retirement plan loans. In late June, the IRS released Notices 2020-50 and 2020-51, which clarify many of the details for both retirement plan participants and sponsors.

There’s still time to make a regular IRA contribution for 2019. You have until your tax return due date (not including extensions) to contribute up to $6,000 for 2019 ($7,000 if you were age 50 or older on December 31, 2019).

Due to the Coronavirus pandemic, the due date for filing federal income tax returns and making tax payments has been postponed by the IRS to July 15, 2020.

This long-awaited legislation expands savings opportunities for workers and includes new requirements and incentives for employers that provide retirement benefits. Here are some of the changes that may affect your retirement, tax, and estate planning strategies. All of these provisions were effective January 1, 2020, unless otherwise noted.

The SECURE Act represents the most sweeping set of changes to retirement legislation in more than a decade. While many of the provisions offer enhanced opportunities for individuals and small business owners, there is one notable drawback for investors with significant assets in traditional IRAs and retirement plans.

Need more time to pay your 2018 taxes? Should you extend? Will there be penalties? Should you wait to file. Here are few tips and thoughts on what to do for your 2018 taxes.

When sweeping tax reform passed in December, 2017 small business owners rejoiced over a new tax deduction aimed specifically at small businesses with pass-through income. Section 199A provides for a deduction based on Qualified Business Income. Understanding this deduction will be one of those impactful ways to save in taxes going forward.

Required minimum distributions, often referred to as RMDs or minimum required distributions, are amounts that the federal government requires you to withdraw annually from traditional IRAs and employer-sponsored retirement plans after you reach age 70½. We review a couple key points on why RMDs create such a tax problem for future and current retirees.

Tax planning is difficult in those years you expect to recognize unusually high amounts of income in a single tax year. There is a new solution to deferring taxes on these transactions, they are called Opportunity Zones.