Did you receive a tax refund this year? Recent data released by the Internal Revenue Service (IRS) shows the average tax refund amount is up $178 at the end of March 2024 compared to the same time last year.
Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Typically, suggestions are grouped into several different categories, such as "Filing Status" or "Employee Matters," for ease of reading.
A donor-advised fund offers an easy way for a donor to make significant charitable gifts over a long period of time. A donor-advised fund is similar to a private foundation but requires less money, time, legal assistance, and administration to establish and maintain. A donor-advised fund also enjoys greater tax advantages than a private foundation.
Charitable giving can play an important role in many estate plans. Philanthropy cannot only give you great personal satisfaction, it can also give you a current income tax deduction, let you avoid capital gains tax, and reduce the amount of taxes your estate may owe when you die.
Shopping for holiday gifts can be a daunting task. From long lines to out-of-stock items, the rush of the holiday season can be overwhelming. As you start thinking of potential holiday gift ideas for your children, keep in mind the things they have been asking for or things they could benefit from.
According to the U.S. Bureau of Labor Statistics, consumer prices are up by 8.2%ˡ. In dollars, that means, most consumers are now paying an additional $445 more per month for goods and services, like groceries, rent, and healthcare².
Do you want to start building your credit but aren’t sure where to start? That’s okay. In fact, it’s very normal to be in this position. We’re going to go over some common questions people, especially young adults, often have about getting started on their credit journey.