Tax Tips

Six things to know about filing your 2020 income tax

Six things to know about filing your 2020 income tax

The COVID-19 pandemic changed life in many ways in 2020 and 2021, including finances and the economy. Tax laws change all the time, but in 2020, there were changes that can impact how you file for taxes this tax season. Take a look below at some of the changes you...

Will there be a new wealth tax under Biden?

Will there be a new wealth tax under Biden?

An article by the Wall Street Journal from March 14 reports that Treasury Secretary Janet Yellen said “the Biden administration hasn’t decided whether to pursue a wealth tax, but will likely issue proposals to address the swelling federal budget deficit.” Levying a...

Tax efficiency tips for your retirement

Tax efficiency tips for your retirement

One of the major benefits of saving for your retirement through a qualified retirement savings account is that your money can grow tax-free. However, sooner or later, you will be responsible for paying taxes on your wealth, such as paying taxes on a withdrawal from...

What new investors need to know about taxes on investments

What new investors need to know about taxes on investments

A recent online survey by Deutsche Bank found that half of the participants aged between 25 and 34 years plan on spending 50% of their stimulus checks on stocks. This in addition to the GameStop short squeeze means a lot of new investors are getting involved in the...

What is the current estate tax exemption rate?

What is the current estate tax exemption rate?

Some states charge a tax on  an estate and others do not. While Florida is a state that does not charge taxes on an estate, you may still owe taxes to the federal government. However, depending on how much your estate is worth, you might not have to pay any...

How do taxes work for those working from home?

How do taxes work for those working from home?

The COVID-19 pandemic introduced a number of changes to our day-to-day lives. One of the most significant impacts it has had on many is how we perform our job duties. For some, this means coming into work using personal protective gear. For many others, this means...