By an overwhelmingly bipartisan vote of 417-to-3 on May 23rd of this year, the U.S. House of Representatives passed the Setting Every Community Up for Retirement Enhancement (SECURE) bill of 2019. SECURE then moved to the Senate for a vote … Read More
Tis the season of giving gifts and putting a smile on the faces of those you care for. If you are thinking of giving a substantial monetary gift, you should be aware of the tax implications beforehand.
Up … Read More
New inflation-adjusted limits for 2020 IRA and retirement plan contributions have been released by the IRS. Contribution limits have risen slightly for 2020, and income thresholds have increased as well. If you want to begin planning for your 2020 contributions … Read More
Congratulations on your bonus! As 2019 comes to a close, many employees will be receiving a supplemental wage or cash bonus at year-end. Before you start thinking about what you are going to spend it on i.e. holiday gifts, there … Read More
As 2019 has entered its final two months, most taxpayers have already filed their 2018 income tax returns. Those taxpayers residing in Harris County and surrounding counties were given until January 31, 2020 to file their 2018 returns, due to … Read More
Over half of the month of May is behind us and for many of you, that means it has been over a month since you thought about the filing of your 2018 federal income tax return. For those of you … Read More
Have you ever asked the age of a young child whose fifth birthday is in his rear view mirror? Because that child eagerly looks forward to attaining the age of 6 years old, she may tell you she is 5 … Read More
When Congress passed the Tax Cuts and Jobs Act (“TCJA”) in late 2017, it dramatically reduced the income tax rates paid by corporations to a flat rate of 21%. In an attempt to equalize those non-corporate taxpayers, Congress enacted new … Read More
If you have ever heard of the Alternative Minimum Tax (AMT), you know it has been a major issue for decades. Many taxpayers found themselves paying a substantial alternative minimum tax, despite legitimate deductions that would ordinarily subject them to … Read More
Tips for Setting Smart Financial Resolutions in 2020
With 2020 just getting underway, many people are setting personal goals to get in shape, eat healthier and find ways to sneak in some more zzz’s. Let’s not forget the importance of setting financial resolutions critical for improving both short-term … Read More