Qualified Charitable Deduction delivers tax benefits beyond the typical income tax deduction.

For anyone facing the prospect of taking the required minimum distribution (RMD) from their Individual Retirement Account (IRA) the potential for added tax burden is real. The amount of the…

Continue ReadingQualified Charitable Deduction delivers tax benefits beyond the typical income tax deduction.

Notice 2020-75: The IRS Intends to Issue Proposed Regulations to Assist with State and Local Tax (SALT) Deduction Cap

On November 9, 2020, the IRS released Notice 2020-75. With this Notice, the IRS described its intention to issue proposed regulations, in connection with the Treasury Department, which would allow…

Continue ReadingNotice 2020-75: The IRS Intends to Issue Proposed Regulations to Assist with State and Local Tax (SALT) Deduction Cap