Mar 14, 2017 | Firm Updates, Individual Tax, Retirement Planning, Tax Tips
Yes, there’s still time to make 2016 contributions to your IRA. The deadline for such contributions is April 18, 2017. If the contribution is deductible, it will lower your 2016 tax bill. But even if it isn’t, making a 2016 contribution is likely a good idea. Benefits...
Jan 24, 2017 | Firm Updates, Retirement Planning, Tax Tips
Investment interest—interest on debt used to buy assets held for investment, such as margin debt used to buy securities—generally is deductible for both regular tax and alternative minimum tax purposes. But special rules apply that can make this itemized deduction...
Dec 28, 2016 | Firm Updates, Retirement Planning, Year End
Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most of the limits remain unchanged for 2017. The only limit that has increased from the 2016 level is for contributions to defined contribution plans, which has gone up...
Dec 14, 2016 | Firm Updates, Individual Tax, Retirement Planning, Tax Tips, Year End
A tried-and-true estate planning strategy is to make tax-free gifts to loved ones during life, because it reduces potential estate tax at death. There are many ways to make tax-free gifts, but one of the simplest is to take advantage of the annual gift tax exclusion...
Nov 2, 2016 | Firm Updates, Retirement Planning
Nonqualified deferred compensation (NQDC) plans pay executives at some time in the future for services to be currently performed. They differ from qualified plans, such as 401(k)s, in that: NQDC plans can favor certain highly compensated employees, Although the...
