News & Insights

What new tax bracket changes will take place in 2022?

The arrival of the 2022 tax season will introduce taxpayers to several new changes. While income tax rates are remaining the same, as they have since 2018, the brackets into which each individual or married filing jointly taxpayer falls may not be the same as it was last year. Adjustments to account for inflation have […]

What will the child tax credit payment dates be for 2022?

If you received Letter 6419 in the mail, then you are likely eligible for further child tax credits from the IRS in 2022. Many families received half of the newly expanded child credit payments in the previous year. But the rest of the payments will be going out during the 2022 tax season, and it’s […]

What Tampa, FL, residents need to know about dealing with the IRS during tax season and the “fourth” stimulus checks

Taxpayers will be facing uncommon challenges this year. Job losses have impacted the finances of American taxpayers at an unprecedented rate, with an estimated 9.6 million people between the ages of 15 and 64 having lost their jobs. Economic Impact Payments, more commonly known as stimulus checks, have helped alleviate some of that hardship. A […]

Is the money you put into a Florida prepaid college savings plan tax deductible?

A prepaid college savings plan is an education savings plan that allows you to save for your child’s college education costs. It’s a type of 529 plan, the name of which comes from section 529 of the Federal Tax Code; 529 savings plans allow an account holder to buy college credits from qualifying public universities […]

What happens to your tax liability with proper financial planning?

Do you like paying more in taxes than you have to? Not many people do. Most people have what is called a tax liability, which is “the total amount of tax debt owed by an individual, corporation, or other entity to a taxing authority such as the Internal Revenue Service,” according to Investopedia. This is […]

Four ways the 2021 tax code benefits those undertaking philanthropic endeavors

Are you wondering how the 2021 tax code impacts your charitable donations? According to the IRS, “Recent legislation includes several provisions to help individuals and businesses who give to charity.” Through the end of 2021, the new law offers four temporary tax changes. Learn how those changes affect your charitable donations.  Don’t itemize? No problem  […]