Individual Tax Articles
Individuals: 2024 Inflation-Adjusted Tax Amounts
Posted by Amanda Mooney on November 21, 2023
The IRS has announced inflation-adjusted federal tax amounts for individuals.
Early IRA Withdrawal Penalty Exceptions
Posted by Cheryl A. Jankowski on November 14, 2023
From the early withdrawal penalties to an increased federal tax bracket, consider these exceptions to avoid additional taxes.
2024 SECURE Act Provisions for Financial Emergencies
Posted by Cheryl A. Jankowski on October 25, 2023
Should you experience a financial emergency, beginning in 2024 as part of the SECURE 2.0 Act, you can now make tax free withdrawals if you meet specific criteria.
Tax-Free Treatment of Academic Scholarships
Posted by Angela Miles on October 17, 2023
Scholarships are tax-free, but you need to comply with certain conditions and understand what can be paid with the scholarship funds.
The Basic Tax Rules of Rental Properties
Posted by Alexander Intihar on October 10, 2023
From short term rentals to rental income deductions, we cover the basic rules of vacation property rentals.
Including Special Assets in Your Estate Plan
Posted by Christine Proulx Grzyb on September 21, 2023
Special assets such as artwork needs to be paid attention to as you plan your asset.
Health Savings Account: Eligibility, Deduction Limits, and Distributions
Posted by Isabella Newman on September 19, 2023
Is a health saving account beneficial to your tax status? We detail eligibility, deduction limits, and distributions and how an HAS can be a flexible option for tax savings.
Pros and Cons of Custodial Accounts
Posted by Isabella Newman on September 14, 2023
A custodial account is owned by the child but managed by the party or guardian, read to see if this is an option for you.
The Tax Impact of Investment Gains and Losses
Posted by Brian Kern on September 12, 2023
With the fluctuations of the market this past year, you’ll want to pay close attention to your gains and losses at tax time.
Income Tax Consequences of Employer Provided Life-Insurance
Posted by Kelsey Weigel on August 22, 2023
Up to $50,000 of life insurance provided by your employer is excluded from taxable income, any additional coverage is taxable.