How High Inflation May Affect You Tax-Wise for 2023

Each year, the IRS calculates inflation adjustments for various tax provisions for the following tax year.  Typically, the inflation adjustments for the upcoming tax year are announced in earl...

President Biden Signs Inflation Reduction Act

On August 16, 2022, President Joe Biden signed the Inflation Reduction Act of 2022 (the “Act”) into law.  The bill passed Congress with a vote of 220-207 in the House, and 51-50 in...

ROTH IRA – IS IT A GOOD TIME TO CONVERT?

As stock market values have fallen recently, many taxpayers are considering converting assets in their traditional IRA to a Roth IRA.  Current laws allow taxpayers to contribute a maximum of $...

Did You Receive Advance Child Tax Credit Payments From the IRS in 2021?

The American Rescue Plan Act of 2021 (“ARPA”) included modifications to a number of existing tax provisions, including a significant overhaul of the child tax credit for the 2021 tax ye...