education

9″Above-the-Line” Deductions for Your 2021 Return

2023-05-11T15:14:54-04:00February 4th, 2022|Blog, Taxes|

9"Above-the-Line" Deductions for Your 2021 Return By: Stacey Nickens Taxpayers often ask me about deducting mortgage interest payments or medical expenses. However, many taxpayers do not claim these popular deductions because it is more beneficial for them to take the standard deduction. On 2021 returns, the standard deduction is $12,550 for single filers and [...]

Advantages of a 529 Plan in 2021

2023-05-11T15:32:29-04:00April 26th, 2021|Blog, Financial Planning, Investments|

Advantages of a 529 Plan in 2021 By: Stacey Nickens The education landscape has changed significantly in the past decade, especially during the past year. Students have greater technological needs, especially with many students moving to a remote learning environment. Many families and students have to take on debt to cover educational expenses, and [...]

Scam Alert: Watch Out for New Tax Refund Scam

2023-05-11T15:33:50-04:00April 2nd, 2021|Blog, Taxes|

Scam Alert: Watch Out for New Tax Refund Scam By: Stacey Nickens Scammers are currently targeting people associated with colleges, universities, and other educational institutions, Students and staff who have ".edu" email addresses may receive an email with the IRS logo. These emails are often accompanied by the subject lines "Tax Refund Payment" or [...]

4 Above-the-Line Deductions for Taxpayers Who Don’t Itemize

2023-05-11T15:35:01-04:00March 8th, 2021|Blog, Taxes|

4 Above-the-Line Deductions for Taxpayers Who Don't Itemize By: Stacey Nickens The 2017 tax reform legislation increased the standard deduction, such that few taxpayers itemize their deductions. In 2020, the standard deduction is $12,400 for single filers and $24,800 for joint filers. Few taxpayers will accumulate enough individual deductions to exceed the standard deduction [...]