Blog

IRS Now Using Private Debt Collectors Which Might Confuse Taxpayers

April 26th, 2017|

By Tim Moran, Vice President and Senior Manager, Operational Risk

For years scammers have placed phone calls claiming to represent the IRS. Typically, they threaten potential victims with arrest unless they immediately pay a delinquent tax debt. The IRS had countered these scams by publicly stating that they never contact taxpayers by phone. That’s about to […]

Tax Tip Tuesday: That Was Fun, Let’s Do It Again!

April 18th, 2017|

By Jeffrey R. Wolfe, Vice President and Manager, Estate Planning Strategies and Affluent Client Services

Today is the last day of tax season, and what a fun season it was! You may feel some relief, or you may feel ongoing anger. Either way the 2016 tax season is over. That said, the 2017 tax season is […]

Sugar High

April 17th, 2017|

By Pete Biebel, Vice President

Little children love the concept of The Easter Bunny. Free candy is awesome! As very young children grow older, the months and years go by, their admiration and enjoyment of the concept continues undiminished, but their belief in the delivery mechanism abates and eventually disappears. Over that time, many such children […]

Tax Tip Tuesday: Higher Income Means More Taxes

April 11th, 2017|

By Jeffrey R. Wolfe, Vice President and Manager, Estate Planning Strategies and Affluent Client Services

Earning a high income may get you many nice things, but it also gets you the pleasure of paying more taxes. Many tax thresholds are indexed for inflation, like the AMT tax exemption or the phase-out of certain deductions. However, taxes […]

Frozen Doe

April 10th, 2017|

By Pete Biebel, Vice President

In a week that was loaded with market-moving economic reports and skyrocketing geopolitical tension as well as an eye-opening release of the Fed meeting minutes, the stock market went nowhere. Like the proverbial deer frozen in panic staring into the headlights of an approaching vehicle, the market was emotionally charged, but […]

Tax Tip Tuesday: Is My Social Security Taxable?

April 4th, 2017|

By Theresa Fry, Senior Vice President and Manager, IRAs and Retirement Planning

At one time, all Social Security benefits were tax free. Today, if your only source of retirement income is Social Security, then it may still be tax free. But the higher your income, the more taxes you’ll pay on your benefits.

Taxes on Social Security […]

Sad Numbers for the Bears

April 3rd, 2017|

By Pete Biebel, Vice President

Last week the market played a familiar old refrain. First the market tempted any remaining shy but gullible sideline bears to pile into new short positions with its Tuesday washout in the previous week. Then the market conspired to further increase their confidence when all the recovery attempts later that week […]

Tax Tip Tuesday: Tax Tips for Parents

March 28th, 2017|

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

Being a parent can be both exhilarating, and chaotic and the financial implications can be complicated, particularly at tax time. However, parents can check out these tips to help lower tax bills and/or lead to a larger refund:

1. There are a number of tax credits […]

Message in a Bobble

March 27th, 2017|

By Pete Biebel, Vice President

The market dropped the ball last week. It had been kind of sort of juggling the thing all month, trying to carry its winter romp into the spring. Most market averages hit their highs on March 1, the day after President Trump’s address to Congress. At some point during that celebratory […]

Tax Tip Tuesday: Yes, You Can Direct Deposit Your Tax Refund into Your IRA!

March 21st, 2017|

By Theresa Fry, Senior Vice President and Manager, IRAs and Retirement Planning

If you haven’t yet filed your tax return and are expecting a refund this year, there is an easy way to turn that refund into retirement savings without being tempted to spend it. Did you know you can direct deposit your tax refund into […]