INSIGHTS

We See Things Differently

When we’re not addressing clients’ needs for business and financial advisory, assurance or tax matters, we’re researching, learning and thinking about related subjects. Check out some of our thinking on a broad variety of topics that may impact your organization. And if you’d like to learn more about any of these topics, we’re always happy to talk.

Insights, Tax Center Brett Friedman, CFP® Insights, Tax Center Brett Friedman, CFP®

5 Tax Planning Tips for Retirees

There’s a common misconception that, after retirement, tax bills shrink, tax returns become simpler and tax planning is a thing of the past. That may be true for some, but many people find that the combination of Social Security, pensions and withdrawals from retirement accounts increases their income in retirement and may even push them into a higher tax bracket. This article provides five tax-planning tips for retirees.

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Insights, Tax Center Brett Friedman, CFP® Insights, Tax Center Brett Friedman, CFP®

Rental real estate: Determining if a property is a business or an investment

If you own rental real estate, its classification as a trade or business rather than an investment can have a big impact on your tax bill. The distinction is especially important because of the 20% Sec. 199A deduction for certain sole proprietors and pass-through entity owners. This article provides a brief overview of the deduction and rental real estate guidance related to it. A sidebar spotlights the IRS definition of “real estate professional” as it relates to this tax matter.

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Insights, Tax Center Brett Friedman, CFP® Insights, Tax Center Brett Friedman, CFP®

Are you liable for “nanny taxes”?

When employing household workers — which may also include housekeepers, cooks, gardeners, health care workers and other employees — it’s important to understand the tax obligations, commonly referred to as “nanny taxes.” This article provides a quick review.

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Insights, Tax Center MVB Insights, Tax Center MVB

How to avoid tax scams

Scam artists seem to come out of the woodwork when there’s money involved—and taxes are no exception. Fortunately, by becoming familiar with common tax scams and understanding what the IRS will and won’t do, it’s easy to avoid them. This article explores several tax frauds and explains how taxpayers should act if they feel they’ve been the target of one.

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Insights, Tax Center MVB Insights, Tax Center MVB

Is a Roth IRA conversion right for you this year?

The COVID-19 pandemic has been causing havoc in the global markets and the U.S. economy. In these uncertain times, it’s important to stay on top of your financial status, including taking measures to protect your retirement nest egg over the long term. This article discusses what to consider when determining whether a Roth IRA conversion makes financial sense.

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