There’s Still Time To Contribute To Your IRA for 2021
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 return.
Parental Custody & Tax Credits: What You Need to Know
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.
Mark Your Calendar for Tax Prep Deadlines
Please note the following deadlines for providing your materials to us for tax filing:
• March 1: Corporate/Partnership Tax Returns to file by March 15 (without extension).
• March 25: Personal Tax Returns to file by April 18 (without extension).
8 Tips to Avoid Costly Tax Return Mistakes
While tax laws are complicated, most common tax return errors are surprising simple. While we’ll do everything possible to help you avoid these mistakes, it’s important for you to know what they are and how to avoid them. Many errors can be avoided by filing electronically, which is how we file all the returns we complete.
2021 Tax Preparation Checklists Now Available
Help yourself (and us!) make tax preparation easier by using these handy Checklists to pull together your tax materials for 2021. With another year of tax law changes and new programs, these Checklists will ensure you’ve got everything you need to file.
2022 Calendar: Know Your Tax Dates & Deadlines
We will be developing a new checklist to help you pull together your tax preparation materials for 2021. We hope to have that ready in our next newsletter. Until then, please take note of these important tax-related dates for the new year:
Don’t Forget to Take Your RMD by Dec. 31
December 31 is the deadline to take your required minimum distribution 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 RMD amounts not withdrawn on time may be subject to penalties.
Plan Ahead: Consider These 8 Smart Tax Tips for Year-end 2021
With only a few weeks left until the new year, it’s time to take a look at your year-end finances. There may be a few things you can do before the calendar changes to get ready for the 2022 tax-filing season.
Retirement and Taxes: Understanding Your IRA
Retirement may be closer than you think — especially if you’re saving money now just for that purpose. An Individual Retirement Arrangement (IRA) can be a smart way to save because it provides tax incentives to help you on your path. And IRAs are easy to set up with a bank or other financial institution, a life insurance company, a mutual fund or a stockbroker.