At the end of 2019, the SECURE Act (Setting Every Community Up for Retirement Enhancement Act) was signed into law, modifying RMD (required minimum distribution) rules for inherited IRAs and retirement accounts. Under the SECURE Act, inherited IRAs and retirement accounts must be distributed and taxed within 10 years of the original owner’s death.  Prior […]

At the beginning of the 2020 year, the IRS debuted a revised version of the W-4 form, with the intent of determining an employee’s federal tax withholding with greater accuracy. Tips for Completing the New Form All new employees, as well as existing employees who want to adjust withholdings, must complete the new W-4 form. […]

Everyone loves getting a tax refund, right?  Not us! We’ll explain why; but first let’s cover some basics about filing deadlines and refund timing. Preparing, Filing and Acceptance of Returns There are several steps your tax professional goes through with your return. Here is a very rough, general rundown: Client (you) signs engagement letter (legal […]

If you are one of the rising number of employees receiving some form of stock compensation through your job, you know how confusing it can be to understand how each type works and the varying tax considerations you need to be aware of.  Here’s a quick description of the most common plans. Stock Options   Having […]