Get Ready to File Your Tax Return: Documents You Will Need [Checklist]

It’s tax time! You know what that means: time to pull together all those important documents you need to take to your accountant to complete your tax return. Having all the documents organized will help ensure your tax return is completed correctly… Read More

Understanding Your Health Savings Account (HSA) [Breakdown]

If you qualify for a Health Savings Account (HSA), it provides a great method with some careful planning to both pay health insurance companies less and save for retirement, while reducing your tax liability. Setting aside money in an HSA allows you… Read More

When Will You Receive Your Tax Refund in 2020?

See the biggest factors that affect when you receive your tax refund in 2020 for the 2019 tax year. Read More

Required Minimum Distribution (RMD) for Retirement Income - Understanding the RMD and How to Get the Largest Tax Benefit from Your Distribution

It is that time of year again: Time to make sure you have met the required minimum distribution (RMD) from your retirement account by December 31. If you turned 70½ this year, you have until April 1 of next year to take your first RMD from your tax… Read More

Get Ready to File Your 2019 Tax Return: The updated numbers affecting your 2019 tax return

Due to the annual inflation adjustments, the IRS has updated the numbers affecting your 2019 tax return, including tax brackets and tax rates and standard deduction amounts. These are the numbers you will use in 2020 to file your 2019 tax return. If… Read More

Taxpayer Identification Numbers - Who Needs One?

An Individual Taxpayer Identification Number (ITIN) is a nine digit number, the Internal Revenue Service (IRS) uses as a tax processing number when people file their federal tax returns, who do not qualify for a Social Security Number (SSN) or Employ… Read More

Planning for Your Long-Term Care Needs

Many people rely on Medicaid to cover the rising costs of nursing homes and other forms of long-term care. The other main method of planning is to purchase long-term care insurance. Whichever method you choose, it is important to develop a plan for y… Read More

Exemptions to the Tax Penalty on Early Distributions from Retirement Accounts

The majority of distributions from retirement accounts are subject to state and federal income taxes. In addition, if you take a distribution before reaching age 59½, a 10% early withdrawal penalty will apply unless you qualify for an exemption. The… Read More

What’s Better to Take a Loan or Distribution from Retirement Income?

Deciding what’s better to take a loan or distribution from retirement income is no easy task. An essential piece of advice always to remember is your retirement income should be saved and used for, you guessed it, retirement! However, as people get… Read More

Podcast - Buying a Multi-Owner Hunting Property: Conversation w/ Attorney Ted Gudorf

On this episode we talk to an estate planning attorney, Ted Gudorf, J.D., LL.M., about buying hunting property with a group of buddies as well as some of the things to consider when passing down your hunting property to your children. Read More

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