by Laxmi Patel | Jul 17, 2024 | Family, Individual Tax, Tax Planning
Navigating the complex rules surrounding retirement accounts can be challenging when it comes to accessing funds before the age of 59½ without incurring penalties. Rule 72(t) of the Internal Revenue Code offers a potential solution for those who need to make early...
by Tabitha Regan | Jun 15, 2024 | Family, Individual Tax
Owning a vacation home is a dream come true for many, providing a getaway spot for relaxation and a potential source of rental income. However, the tax implications can be daunting. This guide will answer the most common questions for those who own a second home, and...
by Tabitha Regan, CPA | Jun 7, 2024 | Family, Individual Tax, Tax Planning
In early 2022, the IRS issued proposed regulations regarding required minimum distributions (RMDs) to reflect changes made by the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. The IRS has held off on releasing final regulations so that it...
by Stephanie Nolan | May 21, 2024 | Family, Tax Planning
Congratulations on your recent marriage! As you embark on this exciting journey together, it’s essential to understand how your new marital status affects your taxes. From name and address changes to withholdings and filing statuses, we’ve got you covered....
by Tabitha Regan | Mar 19, 2024 | Family, Individual Tax, Tax Planning
Most of us know and understand the basics of how to write a will and testament (identifying beneficiaries, finding an executor, getting a notary, etc.), but what do high-net-worth individuals need to keep in mind when it comes to estate tax planning and will creation?...
by LittleOwlCPA Admin | Oct 20, 2023 | Family, Tax Planning
Trusts are versatile legal instruments that can play a crucial role in estate planning, asset protection, and wealth management. Understanding the basics of trusts is essential for individuals and families seeking to preserve and manage their assets efficiently. In...
