Highlights of possible changes in federal tax law.
Provides information tax rate schedules, exemptions, and contributions to savings plans.
Given the uncertainties created in 2020 by the coronavirus pandemic and political landscape, now is a good time to evaluate your tax and wealth-management plans.
Having documents up-to-date is particularly important now given concerns about COVID-19.
For those considering giving to those affected most by the coronavirus pandemic, the new CARES Act, signed into law in March, provides tax incentives for donors.
In response to the spread of the coronavirus, the federal government has approved a $2 trillion-plus stimulus plan, referred to as the CARES Act, and extended deadlines for tax filing and payments.
Donor advised funds (DAFs) allow donors to pool donations into one fund, deduct the entire contribution in one year, and advise the fund manager over time on the charities to donate to.