Taxes

Avoid Tax Surprises This Year: No More Deduction for Investment Advisory Fees

September 7th, 2018|

By Theresa Fry, Senior Vice President and Manager, IRA’s and Retirement Planning

(Part 4 of a 4-part series)

Some surprises are good, but when it comes to taxes it is better to know what you can expect.  In general, the new tax laws that take effect in 2018 will reduce taxes paid by many individuals because of […]

Avoid Tax Surprises This Year: State and Local Tax Deductions Now Limited

September 5th, 2018|

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

(Part 2 of a 4-part series)

Yesterday, we reviewed the importance of checking your withholding to make sure you are not over-withholding or under-withholding due to the tax law changes this year.  As the second installment of this series of blogs dedicated to avoiding tax […]

Avoid Tax Surprises This Year: Make Sure You Check Your Withholding

September 4th, 2018|

By Theresa Fry, Senior Vice President and Manager, IRA’s and Retirement Planning

(Part 1 of a 4-part series)

Labor Day marks the end of summer for many people but its origin lies in honoring the contributions that workers have made to the strength, prosperity, laws and well-being of the country. Taxes are part of the everyday reality […]

Tax Freedom Day

April 19th, 2018|

By Theresa Fry, Senior Vice President and Manager, IRA’s and Retirement Planning

You may still be recovering from paying your income taxes, but did you know that you can now celebrate “Tax Freedom Day®” according to the nonpartisan Tax Foundation.  Today, American taxpayers will have earned enough as a whole to pay off their federal, state, […]

Tax Tip Tuesday: Second Verse, Not The Same As The First

April 17th, 2018|

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

Today is the last day of tax season.  You may be happy that a refund is coming, or you may be steamed at the amount of taxes you had to pay.  Regardless, the experience you had for the 2017 tax season likely will be […]

Tax Tip Tuesday: Higher Income Means More Taxes

April 10th, 2018|

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

While the new tax laws for 2018 have lowered income tax rates generally, there’s still some bites of the apple that Uncle Sam plans to take from higher income earners. While many tax thresholds are indexed for inflation, like the AMT tax exemption, taxes […]

National Retirement Planning Week

April 9th, 2018|

By Theresa Fry, Senior Vice President and Manager, IRA’s and Retirement Planning

Today marks the beginning of National Retirement Planning Week®. If you have never taken the time to calculate how much you will need to save for retirement, you are not alone.

A recent Nationwide study reports that each year the average American worker spends over […]

Tax Tip Tuesday: Is My Social Security Taxable?

April 3rd, 2018|

By Theresa Fry, Senior Vice President and Manager, IRA’s 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 […]

Tax Tip Tuesday: Tax Tips for Parents

March 27th, 2018|

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:

There are a number of tax credits […]

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

March 20th, 2018|

By Theresa Fry, Senior Vice President and Manager, IRA’s 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 […]