Typically, tax law limits charitable deductions to 60% of your adjusted gross income (AGI). However, there is a temporary suspension of the limits on deductible charitable contributions under the CARES Act. For a contribution to qualify, it must be a cash contribution made to a qualifying organization during the 2020 calendar year. Donor Advised Funds
Insurance premiums are on the rise across the country. Here are a few risk management strategies you can use to maximize your insurance.
A Coronavirus-related distribution is any distribution made on or after January 1, 2020 and before December 31, 2020 from an eligible retirement plan made to a qualified individual.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act added an above-the-line tax deduction for 2020. Taxpayers who make a qualified charitable contribution and who do not itemize their deductions using Schedule A may be eligible for a deduction from the calculation of gross income.
In March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed. There are several components to the CARES Act that will impact many, if not all, Americans. This blog article focuses on how the CARES Act affects Required Minimum Distributions (RMDs).
Planning for a divorce is a difficult task due to the psychological and financial complexities. There are items you can consider preemptively to enter into the divorce process more prepared. This checklist should provide you with various things to think about prior to planning for a divorce.