Recent News & Blog / Individual Tax
Help safeguard your personal information by filing your 2021 tax return early
The IRS announced it is opening the 2021 individual income tax return filing season on January 24.
How will revised tax limits affect your 2022 taxes?
While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures are adjusted annually for inflation.
IRS issues information letters to Advance Child Tax Credit recipients and recipients of the third round of Economic Impact Payments
The Internal Revenue Service has begun issuing information letters to Advance Child Tax Credit recipients in December and to recipients of the third round of the Economic Impact Payments at the end of January.
There’s a deduction for student loan interest … but do you qualify for it?
If you’re paying back college loans for yourself or your children, you may wonder if you can deduct the interest you pay on the loans. The answer is yes, subject to certain limits. The maximum amount of student loan interest you can deduct each year is $2,500.
With year-end approaching, 3 ideas that may help cut your tax bill
If you’re starting to worry about your 2021 tax bill, there’s good news — you may still have time to reduce your liability. Here are three quick strategies that may help you trim your taxes before year-end.
Remember to use up your flexible spending account money
Do you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses? As the end of 2021 nears, there are some rules and reminders to keep in mind. An account for health expenses
2022 Cost of Living Adjustments
The IRS recently released cost of living adjustments for retirement plans and other retirement-related items for 2022. DOWNLOAD THE 2022 LIMITS
Factor in taxes if you’re relocating to another state in retirement
Are you considering a move to another state when you retire? Perhaps you want to relocate to an area where your loved ones live or where the weather is more pleasant.
Thinking about participating in your employer’s 401(k) plan? Here’s how it works
Employers offer 401(k) plans for many reasons, including to attract and retain talent. These plans help an employee accumulate a retirement nest egg on a tax-advantaged basis. If you’re thinking about participating in a plan at work, here are some of the features.
Vacation home: How is your tax bill affected if you rent it out?
If you’re fortunate enough to own a vacation home, you may want to rent it out for part of the year. What are the tax consequences?