Retirement Contributions
The deadline for contributions to your Traditional IRA, Roth IRA, SEP IRA and 401k contributions is April 18th. It takes time to process these funds, so it is recommended to complete your individual retirement contributions during the first week of April....
Identity Theft
Identity theft is a big problem, especially during tax filing season. Thieves use a technique called “phishing” to try and capture your personal information. Phishing is the use of fake emails or phone calls to confuse taxpayers into sharing vital...
Year End Charitable Giving – Timing Is Everything!
Many people procrastinate to the end of December in making charitable gifts. As midnight on December 31st looms, your GBE advisors have been known to receive calls from anxious clients questioning how to make year-end gifts to their favorite charities and...
Dependent Care Credit
Many parents utilize day care so they can work or look for work. If this applies to you, your costs may qualify for a federal tax credit or may be utilized in a dependent care flex spending account through your employer.Here are some things to know about...
New FAFSA Filing Date
We mentioned in our March Tax Tip that the deadline for FAFSA filing can be as early as March 1st each year. This is no longer true.FAFSA Deadline – NewStudents are now able to submit the FAFSA earlier. Under the current rules you may complete and submit a...
Saving for College
Our firm hears this statement A LOT: We want to start saving for our children’s college education. But there are so many options. Where do we start? What a great question. There are many things to consider when saving for college.Investment StrategyOur...
Document Retention Guide
We often hear the question “How long should I hold onto this document?” To find the answer we enlisted the help of personal financial assistant Suze Orman. Click hereRecord KeepingKeep till warranty expires or can no longer return or exchangeSales...
Non-Cash Donations
Every tax season we hear the question: “I took some clothes and kitchen items to Goodwill, can I write that off?”If you itemize your deductions, that answer is yes.Valuing GoodsBy the time we meet for taxes it may be difficult to remember how many items...
HUD 1 Refinance
We see many complicated tax transactions every year. One group of transactions that are particularly complex are property transactions. The buying and selling of land, buildings, and all other real estate has several tax implications for both the buyer and...
Form 5498
If you have money invested in an Individual Retirement Account you will be receiving a Form 5498 from TD Ameritradeor your stock brokerage firm in the mail this week.What is it?Form 5498 is information sent to the IRS by the trustees of Traditional, Roth,...