New information continues to unfold as Congress provides clarity on several aspects of the economic impact payments and discusses a potential second round of stimulus checks. IRS Notice 1444 Under the CARES Act, the IRS deposited or mailed the first round of stimulus payments back in April in the amount of $1,200 per eligible taxpayer,… Read more

Let’s talk retirement planning. How should retirement accounts be handled after the big changes seen in the CARES Act? The Act extended the deadline for 2019 IRA contributions, waived the required minimum distributions for 2020, and allows the use of retirement funds of up to $100,000 penalty free. 2019 IRA Contributions Deadline Extended In an… Read more

Over the past few years, we have seen some of the greatest shifts in tax legislation. And just as the dust starts to settle on the unprecedented tax reform changes of 2018, we now turn our attention to one of the most extensive pieces of retirement legislation to become law in over 13 years. The… Read more

‘Tis the season for giving! In a recent announcement, the IRS presented the highly-anticipated final regulations on gift and estate tax exclusion amounts made between 2018-2025, confirming there will be no clawback after the exemption amount sunsets. The IRS and the Treasury Department have established that taxpayers who take advantage of the $11 million (indexed)… Read more

As we continue to expand our digital footprint, it is important to incorporate our digital lives into an estate plan so our digital legacy may be preserved. Some call these instructions a “digital will.” This set of instructions is a section of your estate plan that covers email addresses, social media accounts, passwords, website login… Read more