You can save more for retirement next year using tax-advantaged accounts, thanks to a boost in the maximum 401(k) contribution rate by the IRS. The maximum rate increases by $500 to $18,500, which is the first increase in three years.
The IRS and the Social Security Administration published some inflation-adjusted numbers for retirement contributions and gifts for 2018. You can use this information as you begin your tax and financial planning for the coming year.
Taxpayers often overlook and underreport charitable contributions on their tax returns.
You may be bracing for that early December feeling — a crisp chill in the air, the jingling of bells, and a mailbox overfilled with
This October, we experienced more of the same with the market ticking upward and achieving new all-time highs. In this environment, it’s important to remember that we haven’t seen some typical market moves in quite some time—namely a correction.
Donations are a great way to give to a deserving charity, and they also give back in the form of a tax deduction. Unfortunately, charitable donations are under scrutiny by the IRS, and many donations without adequate documentation are being rejected.
Earlier this year, hackers were able to breach the security of Equifax, one of the three national credit reporting agencies. More than 143 million Americans – nearly half the entire country – were exposed to the attack, and may have had their personal information stolen (including names and birthdates, and Social Security and driver’s license numbers). Equifax is still determining exactly whose data has been exposed. While you wait to find out, it’s worth taking a few proactive steps to make sure your info isn’t misused by hackers.
As the year draws to a close, there are several tax-saving ideas you should consider. Use this checklist to make sure you don’t miss an opportunity before the year is out.
Congratulations to Teri Yoder, Whitcomb & Hess Accounting Associate, for passing the Uniform CPA Examination in September!
