17 Dec 2021 Estate Planning
1 Basic exclusion amount plus deceased spousal unused exclusion amount (exclusion is portable for 2011 and later years) 2 The GST tax exemption is not portable 2020 and 2021 gift and estate tax rate...
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17 Dec 2021 Education Planning
American Opportunity and Lifetime Learning Credits Coverdell education savings accounts Deduction for qualified higher education expenses Deduction for student loan interest Gift tax exclusion Kiddie tax All investing involves risk, including the possible loss of principal,...
17 Dec 2021 Business Planning
Adoption Assistance Programs Earnings subject to FICA taxes (taxable wage base) 1 An additional Medicare (HI) employee contribution rate of 0.9% (for a total employee contribution of 2.35%, and a total combined Medicare...
17 Dec 2021 Individual Income Tax Planning
Adoption credit Alternative Minimum Tax (AMT) Charitable deductions 1 Contribution is fully deductible if minimum contribution amount is met and cost of token gift does not exceed maximum 2 Charitable contribution is fully deductible if the...
17 Dec 2021 Protection Planning
Eligible long-term care premium deduction limits: Per diem limit: Archer Medical Savings Accounts Flexible spending account (FSA) for health care Health Savings Accounts (HSAs) All investing involves risk, including the possible loss of principal, and...
17 Dec 2021 Federal Income Tax Rate Schedules (Individuals, Trusts, and Estates)
Single taxpayers Married filing jointly and surviving spouses Married individuals filing separately Heads of household Trusts and estates All investing involves risk, including the possible loss of principal, and there is no guarantee that any...
08 Dec Is Now a Good Time to Consider a Roth Conversion?
This year has been challenging on many fronts, but one financial opportunity may have emerged from the economic turbulence. If you've been thinking about converting your traditional IRA to a...
04 Dec Homeownership Rate Spikes During Quarantine
The U.S. homeownership rate jumped by 2.6% in the second quarter of 2020, the largest quarterly increase on record, bringing it to a level last seen in 2008. Part of...
01 Dec Year-End 2020 Tax Tips
Here are some things to consider as you weigh potential tax moves before the end of the year. Defer income to next year Consider opportunities to defer income to 2021, particularly if...
27 Nov Lessons from the Lockdown: A Back-to-Basics Holiday
If there is one thing the COVID-19 stay-at-home orders demonstrated, it was the need to find joy in simple pleasures. In fact, 43% of respondents to one survey said they...