Oct 29, 2019 | Firm Updates, Tax Tips
If you’re planning to sell assets at a loss to offset gains that have been realized during the year, it’s important to be aware of the “wash sale” rule. How the rule works Under this rule, if you sell stock or securities for a loss and buy substantially identical...
Apr 2, 2019 | Firm Updates, Retirement Planning, Tax Tips
Do you want to save more for retirement on a tax-favored basis? If so, and if you qualify, you can make a deductible traditional IRA contribution for the 2018 tax year between now and the tax filing deadline and claim the write-off on your 2018 return. Or you can...
Dec 27, 2018 | Firm Updates, Retirement Planning
Retirement plan contribution limits are indexed for inflation, and many have gone up for 2019, giving you opportunities to increase your retirement savings: Elective deferrals to 401(k), 403(b), 457(b)(2) and 457(c)(1) plans: $19,000 (up from $18,500) Contributions to...
Aug 8, 2018 | Firm Updates, Individual Tax, Retirement Planning
Converting a traditional IRA to a Roth IRA can provide tax-free growth and tax-free withdrawals in retirement. But what if you convert your traditional IRA—subject to income taxes on all earnings and deductible contributions—and then discover you would have been...
Apr 3, 2018 | Firm Updates, Individual Tax, Retirement Planning
Tax-advantaged retirement plans like IRAs allow your money to grow tax-deferred—or, in the case of Roth accounts, tax-free. The deadline for 2017 contributions is April 17, 2018. Deductible contributions will lower your 2017 tax bill, but even nondeductible...