Trusts can take a charitable tax deduction under Section 642(c), often described as “unlimited,” meaning they could potentially reduce taxable income to zero....
As we approach year-end, it’s time to review your retirement savings strategy to maximize contributions, minimize taxes, and avoid penalties. Below, we outline the 2025 retirement plan contribution limits, required minimum distribution (RMD) rules, and key tax implications to guide your planning....
Right now, taxpayers may be more concerned about their 2022 tax bills than about how to handle their personal finances in the new year. However, as they deal with their annual tax filing, it’s a good idea to also familiarize themselves with pertinent tax-related amounts...
Simplified Employee Pension (SEP) plans can be flexible and, well, simple vehicles that small businesses can use to offer retirement benefits to employees. This article explains how they work and reminds readers that there’s still time to set one up to benefit on a 2018...
The clock is ticking down to the tax filing deadline. The good news is that individuals may still be able to save on their impending 2017 tax bills by making contributions to certain retirement plans. This article looks at deadlines, limits and phaseout ranges for...
