If you subscribe to the shoebox method of tax record-keeping, we’re here to help. The latest tax filing season is ending, so you may be wondering how to handle that big pile of receipts, pay stubs, cancelled checks, and brokerage statements cluttering up your dining room table. Well, there are some simple rules to help […]

Continue Reading

Prudent investors shouldn’t limit “tax season.” It’s not just the early-year filing period or the late-year scramble to take advantage of pre-December 31 portfolio moves that may trim your IRS bill. Your investing checklist should always include reviewing tax impacts with the help of your tax professional. This means knowing your reporting requirements—including cost basis—well […]

Continue Reading

True or false: Your out-of-sight, out-of-mind investments can grow uninterrupted without consequences? False. Beware of escheatment. Say what? Perhaps you purchased securities a few years back looking for capital appreciation or distribution income. You may review your statements regularly to see how well you’re doing, but other than that, you’ve just kicked back and put […]

Continue Reading

The looming calendar flip means different things to different investors, depending on age, portfolio makeup, long-run goals, and more. It’s always best to check with your financial advisor and tax professional for specific year-end moves. Here’s a quick list of last-minute investing and potentially tax-saving moves that might make sense. 1. Reminder: RMD Chief among […]

Continue Reading

It’s coming down to the wire for traders to finish their taxes. Did the wash sale rule trip you up again this year? You’re not alone. The wash sale rule has been confusing traders for a long time. Let’s clear up some of the confusion and look at a couple ways traders can avoid a […]

Continue Reading

Even if you’ve done all your own taxes throughout your working life, it’s still a good idea to turn to a professional when you retire. Why? Because the rules are different in the golden years when your income is typically lower. You may also be drawing out of tax-deferred accounts and on assets loaded with […]

Continue Reading

The end of the year is a time for celebration, reflection, and new beginnings. It can also be a critical time for nuts-and-bolts retirement account maintenance, including automated steps that can help you avoid the sting of penalties. No matter what stage of retirement planning you’re in, the final months of the year are a […]

Continue Reading

Before we know it, the little guy in the New Year’s diaper will pay us a visit. That means it’s time to start thinking about year-end trading that could impact your tax bill. There’s a lot to think about when trading at year’s end: constructive sales, closing short positions, wash sales, substitute payments, index options, […]

Continue Reading

From the shock of the first FICA-dented paycheck to the last bonus-enhanced deposit before retirement, there are many years of tax filing that happen during one’s career. While the popularity of DIY tax software has made tax preparation less intimidating for some, you still may not have cracked all the nuances of the complex tax […]

Continue Reading

Congratulations! You’re a conscientious saver with an eye on a comfortable retirement, and you regularly maximize your annual Individual Retirement Account (IRA) contributions. Then one day your tax advisor says, “Uh-oh, your IRA contribution isn’t a great idea this year.” Say what? The reality is, there are a number of scenarios that could lead to […]

Continue Reading