Introduction Retiring before age 59½ may sound ideal, but it requires careful tax planning to avoid penalties and preserve your savings. Without smart strategies, early retirees may face steep...
Introduction Many taxpayers miss out on valuable tax deductions that can significantly lower their taxable income and increase their refund. Under various sections of the Internal Revenue Code (IRC),...
Introduction When filing your tax return, you must choose between the standard deduction and itemized deductions to reduce your taxable income. Under IRC § 63, taxpayers can either: Take...
Introduction Rolling over your 401(k) into an IRA can give you greater control over your investments, potentially lower fees, and broader choices—but doing it wrong could trigger unintended taxes...
Introduction Once you reach a certain age, the IRS requires you to begin withdrawing a minimum amount each year from most retirement accounts. These Required Minimum Distributions (RMDs) are...
Introduction Tax credits help reduce your tax liability, but not all tax credits work the same way. There are two types of credits: Refundable tax credits can reduce your...
Introduction If you moved in 2025 for work or personal reasons, you may wonder whether moving expenses are tax-deductible. Under the Tax Cuts and Jobs Act (TCJA) of 2017,...
Introduction Inheriting an IRA can come with unexpected tax consequences—especially after the changes introduced by the SECURE Act and SECURE 2.0. Whether you’ve inherited a Traditional IRA or a...
Introduction Retirement may be the finish line for your career, but it’s also the starting line for a new phase of tax planning. The years leading up to retirement...
Introduction The State and Local Tax (SALT) deduction allows taxpayers to deduct certain state and local taxes from their federal taxable income. Under IRC § 164, you can deduct...