As you file your 2020 taxes, you might run across some differences from last year’s taxes. Whether these are from personal changes in your life or changes to tax rules and deadlines, it’s important to be aware of them before you file. Here are some of the major 2020 tax differences you might notice: 2020 […]
How to Take Advantage of Your Solar Panel Tax Benefit
Leveraging large tax credits to improve your retirement can be a great idea. If solar makes sense for your home, then now is a good time to do it. Back in 2015, Congress extended the solar panel tax credit – also called the investment tax credit (ITC) for five more years. This credit makes solar […]
Managing Internal Capital Gains Exposure
Capital gains exposure can add up if you’re not careful. The best way to avoid them is to be mindful of where you’re vulnerable when you’re building your portfolio. Capital Gains Taxes – What they are, and how they happen Internal capital gains are an increase in the value of an investment that makes […]
Medicare Taxes for High-Income Earners
Medicare offers additional medical coverage for eligible Americans who are (mostly) 65 or older. It’s paid for by taxes, and higher income-earners face some additional taxes for Medicare services. You know that Medicare costs come out of your paychecks, but did you know your investments are also affected? Earnings above certain thresholds get taxed […]
Did You Receive a High Tax Bill? How to Avoid it Next Year
The Tax Cuts and Jobs Act probably made your tax bill look a little different this year. But if you ended up owing a lot more than you were expecting, you’re not alone. Changes in deductions and tax credits had a massive impact on some taxpayers. If you are one of them, there are steps […]