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...
by LittleOwlCPA Admin | Sep 29, 2023 | Family, Tax Planning
For individuals with disabilities, achieving financial independence is a significant goal that can enhance their quality of life and provide them with greater control over their future. ABLE accounts, also known as Achieving a Better Life Experience accounts, offer a...
by LittleOwlCPA Admin | Mar 24, 2023 | Family, Individual Tax, Tax Planning
As the 2023 tax season is upon, it’s important to be aware of the various tax credits that may be available to individual taxpayers. Tax credits are valuable, as they can directly reduce the amount of taxes owed, dollar-for-dollar. Here are a few tax...
