Each year, an IRA owner age 70½ or over can transfer up to $100,000 to charity tax-free. For a married couple, if both spouses are age 70½ or over and both have IRAs, each spouse can transfer up to $100,000 for a total of up to $200,000 per year…

“Harvesting” stock and security losses is a common year-end strategy that attempts to lower an investor’s taxes…

Calendar-year end passthrough entities should pay any remaining tax by December 31, 2023. According to IRS Notice 2020-75, the tax must be paid to claim a current tax deduction. The tax payments reduce the taxable income passed through to the owners…

In 2022, the Consolidated Appropriations Act, 2023 (CAA) was signed into law and includes the SECURE 2.0 Act of 2022.  This new legislation enhances the Setting Every Community Up for Retirement Enhancement (SECURE) Act that was passed in December 2019. The Act contains 92 new provisions to promote savings, boost incentives for businesses, improve retirement outcomes, and offer more flexibility to those saving for retirement…

The reporting on the sale of digital assets by brokers was scheduled to begin on or after January 1, 2023, but has been delayed to 2025 or later…