The IRS announced some good news for certain taxpayers. It is waiving underpayment penalties for certain taxpayers whose 2018 federal income withholding and estimated tax payments fell short of total taxes owed for the year. The estimated tax penalty will be waived for those taxpayers that have at least paid 85 percent of their total tax liability through withholdings and...

Originally written by Erica York for the Tax Foundation As 2018 closed earlier this week, many Americans were considering making last minute, end-of-year charitable donations. While the new tax law contains many changes that will impact these decisions, we can look at Internal Revenue Service (IRS) data to gauge how much Americans have deducted for...

Creating a comprehensive, tax efficient wealth portfolio is an active exercise that happens year-round.  Tax matters, especially for high-net-worth individuals who could see as much or more than 40% of their estate whittled away by estate taxes without careful forethought. As we approach year-end, it’s a good time to consider the many ways there are...

Doing good feels (even) better with a tax write-off. We have a recommendation for you this holiday season. Individuals that exceed the 70-½ age threshold are required by the IRS to take minimum distributions (RMDs) from their traditional IRAs, which have been growing tax-free since inception. The IRS will take a percentage of the investment...