Social Security Review

Social Security Benefits are increasing for 2021. Americans who collect Social Security will receive a 1.3% increase in their monthly payouts in 2021. The extra benefits kick in on Jan. 1. Annual increases in Social Security are determined every year based on changes in a component of the consumer price index. Social Security recipients got […]

RMD Tax Tips For You…

Required Minimum Distributions (Rmds) Now Begin At Age 72 Many taxpayers are working longer and will no longer be required to withdraw assets from IRAs and 401(k)s at age 70½. RMDs now begin at age 72 for individuals who turn 70½ in the calendar year 2020. SECUREAct NEW for calendar year 2020, are provisions included […]

Time to review 2020

Spend A Little Time Each Week To Prepare For The April 15, 2021 Filing Deadline Most of the needed tax records to prepare your tax return will show up in the mail or online in January 2021. Collecting all your tax related documents is important so that we report a complete and accurate return. The […]

Estimated Taxes

The federal income tax is a pay-as-you-go tax. You must pay the tax as you earn or receive income during the year. There are two ways to pay as you go, either by employer withholding or estimated tax payments. Employer withholding: If you are an employee, your employer generally withholds income tax from your pay. […]