Many people don’t realize that once they turn 70½, they have to take required minimum distributions (RMD) from their tax-deferred retirement accounts each year. This is part of the IRS tax code, so there’s no getting around it. For some, these RMDs push them into a higher tax bracket,
The holiday months and year-end tend to be the peak season for charitable giving. If you plan to make contributions over the holidays – whether it’s an in-kind donation of gifts for a family in need or a financial contribution to a charity that is important to you – it’s important to
Giving back is a great way to help people in need in our community. And if you keep track of the charitable contributions you make throughout the year, you can deduct them on your income tax as well! The most common question we get related to this topic is, “How much can we claim (or