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 | Nov 11, 2021 | General Info, Personal, Retirement
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...
by Jonathan Bill | Nov 3, 2020 | Biz Taxes, Personal, Small Business, Tax Season
Each year, the IRS adjusts income thresholds, deduction amounts and tax tables for inflation using the Chained Consumer Price Index (C-CPI) as the basis for its changes. The adjustments recently announced will affect your 2021 deduction limits and tax brackets (for...
by Jonathan Bill | Jun 27, 2019 | General Info, IRS, Personal
People tend to underestimate how much they are going to need for retirement. Americans aged 65-74, for example, currently spend an average of $55,000 a year. But 60% of Baby Boomers who haven’t yet retired believe they will need less than that to live on during...
