Tax & Funding Provisions in the Proposed Stimulus Package By: Stacey Nickens The House is expected to pass a $1.9 trillion coronavirus relief package today, after which the legislation will head to the Senate for approval. Beyond providing additional stimulus, the package includes an increase in the child tax credit, additional funding for small [...]
Understanding Georgia's Retirement Income Exclusion By: Stacey Nickens In Georgia, retirees and older individuals can shelter some of their income from state taxation. This retirement income exclusion is available to state residents who are 62 years and older as well as some disabled taxpayers. Georgia's retirement income exclusion allows qualified taxpayers to exclude certain [...]
How Different Forms of Retirement Income Get Taxed By: Stacey Nickens If you have reached retirement, congratulations! It is so beautiful to have more time to explore your hobbies, spend time with loved ones, relax, and travel. However, I never want my retired clients to be bogged down by financial worries. A surprise tax [...]
Can you claim the home office deduction on your 2020 tax return? By: Stacey Nickens Due to the pandemic, many of us spent most or all of the year working from home. There are certainly benefits from using your home as an office. You can wear comfy clothes to work. You don't have to [...]
New Tax Breaks for the 2020 Tax Year By: Stacey Nickens The pandemic changed so much in our lives, including the tax code. The coronavirus relief laws passed by Congress included a number of tax breaks that can be applied on your 2020 return. In this article, we will review four new tax breaks [...]
IRS Offers New Tool to Protect You From Tax Fraud By: Stacey Nickens In past years, the IRS has given victims of tax fraud an Identity Protection PIN. When these individuals filed their tax return, they would input their Identity Protection PIN in addition to their Social Security Number. Doing so would give them [...]
Your 2020 Tax Document Checklist By: Stacey Nickens As I have written about before, it is important to get your tax return completed as soon as possible. You have until April 15 to file your return. However, the IRS has already said that there will be delays in sending out refunds. Earlier tax preparers [...]
Your Tax Fact Sheet for the 2020 and 2021 Tax Years By: Stacey Nickens As we head into tax season, I wanted to make you aware of some tax code changes and tax facts. Many of these changes are small and only impact income or contribution limits. In the first section, I will review [...]
March 20, 2020 3:00 pm ET By: Stacey Nickens Focusing on Your Strategy During Turbulent Times. Investors are people, and people are often impatient. No one likes to wait in line or wait longer than they have to for something, especially today when so much is just a click or two away. This impatience [...]
March 20, 2020 8:00 am ET By: Stacey Nickens Tax Day is now July 15, 2020. Americans will get a three-month reprieve to file and pay their income taxes for 2019 regardless of the amount they owe. For those who anticipate a refund, you may want to consider trying to file on time. Putting [...]
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