by Jonathan Bill | May 23, 2022 | IRS, Personal
If your child is graduating from high school this year, congratulations! You’re obviously very proud. But you may also be more than a little worried about how to pay for higher education. Whether it’s specialized job training or an advanced degree, there are a lot of...
by Jonathan Bill | Mar 9, 2022 | IRS, Tax Season
If you haven’t yet made a contribution to your IRA for 2021, you still have time. The deadline is the same as the tax-filing deadline: April 18, 2022. What’s more, if you plan to make a contribution by that date, you may be able to claim the deduction on your 2021 tax...
by Jonathan Bill | Feb 23, 2022 | IRS, Personal, Tax Season
Do you have a legal agreement with your child’s other parent about who claims the child on their taxes? If so, you may have some questions about how to handle the Child Tax Credit and the 2021 Recovery Rebate Credit when filing your tax return. Economic Impact...
by Jonathan Bill | Dec 13, 2021 | IRS, Personal, Tax Season
December 31 is the deadline to take your required minimum distribution (RMD) for 2021. The RMD is the minimum amount you must withdraw from your retirement plan account annually starting with the year you reach 72 (in most cases). RMD amounts not withdrawn on time may...
by Jonathan Bill | Nov 29, 2021 | Biz Taxes, IRS, Tax Season
With only a few weeks left until the new year, it’s time to take a look at your year-end finances. There are a few things you can do before the calendar changes to get ready for the 2022 tax-filing season. Your Year-End To-Do List #1 Report changes — If you moved in...
by Jonathan Bill | Jun 16, 2021 | Biz Taxes, COVID-19, IRS
Paid Sick & Family Leave Credits were enhanced under the American Rescue Plan (ARP), which was enacted in March. The credits reimburse small and mid-size (and certain governmental) employers for the cost of providing paid sick and family leave to their employees...
