Private Client Group

giving tuesday charitable donations

Giving Tuesday: Strategies for Donating to Charity or Gifting to Loved Ones

November 30, 2021

Today is Giving Tuesday! Giving Tuesday is a global generosity movement, unleashing the power of radical generosity to transform communities and the world. It is a good time to plan to donate to your favorite charities or give money or assets to your loved ones. Here are the basic tax rules involved in these transactions.…

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tax related actions

Tax Inflation Adjustments for Tax Year 2022

November 11, 2021

The IRS released the annual inflation adjustments for 2022 for the income tax rate tables as well as other tax provisions. The IRS makes these cost-of-living adjustments (COLAs) each year to reflect inflation. Highlights The standard deduction for 2022: $25,900 for married individuals filing jointly and surviving spouses, $19,400 for heads of households, and $12,950…

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gift tax

How To Utilize the Gift Tax Annual Exclusion

October 21, 2021

As we approach the holidays and the end of the year, many people may want to make gifts of cash or stock to their loved ones. By properly using the gift tax annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate, within generous limits, without triggering any…

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Where There’s a Will, There’s a Way

May 8, 2014

Question: Have you created a will? What about other important estate planning documents? If you have, when was the last time you reviewed them? Well-crafted, up-to-date estate planning documents ensure your wishes will be carried out. They also can help ease the burdens on your family during a difficult time. The will A will is…

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Fixing a SIMPLE Mistake

April 3, 2014

Savings Incentive Match Plans for Employees (SIMPLE) IRAs offer small employers and their employees a simplified way to save for retirement. Generally, these plans allow employers and employees to contribute to traditional IRAs set up for employees. However, SIMPLE IRAs are not always simple. Perpetually changing retirement plan laws, can and do cause mistakes to…

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The IRS Offers a Simpler Home Office Deduction

March 17, 2014

If you’re one of the approximately 3.4 million U.S. taxpayers who claim a home office deduction on your tax return, you may find the calculations a bit easier going forward. Earlier this year, the IRS announced a simplified option also known as the “safe harbor” option, for calculating the home office deduction. You can use…

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