The Retirement Savings Contributions Credit, commonly called the Saver’s Credit, is a federal tax credit designed to encourage low- and moderate-income workers to save for retirement. It provides a dollar-for-dollar reduction of the tax owed, supplementing other tax benefits available for retirement contributions. In recent years, millions of taxpayers have benefited, with the credit averaging several hundred dollars per eligible return.
What Is a Designated Roth Account?
Understanding Designated Roth Accounts in 401(k), 403(b), and 457 Plans
Many retirement plans now allow taxpayers to make Roth contributions if the plan includes a Designated Roth account. Your plan may also allow in-plan Roth rollovers or loans, depending on its rules.
Should I Hire an Accountant or Do Taxes Myself?
Is It Worth Hiring an Accountant to Do My Taxes?
Every tax season, we’re flooded with ads promising easy filing through DIY tax software and pop-up prep centers. For those with a simple W-2 and no other complications, those tools might work just fine.
But what if your tax situation is a bit more complex? Hiring an accountant or CPA might not only save you time — it could save you thousands of dollars and help you avoid costly mistakes or IRS audits.
7 Questions to Ask Before Hiring an NYC Accountant
Congratulations! If you’re an entrepreneur or business owner on the hunt for an NYC accountant, it’s a sign of growth. It’s also a smart move. In a survey of 393 small business leaders, an accountant was ranked as the most important professional used by their business.
From potential tax savings to improved cash flow, an accountant is worth the investment – if you hire the right one. Before hiring an NYC accountant, ask these 7 questions:
Tax FOMO: Are You Losing $1,000s in Tax Savings?
The Power of Hiring a CPA (And What Could Happen if You Don’t)
You know about FOMO, or “fear of missing out,” when it comes to skipping a good party. You should also have a very healthy fear of losing out on tax savings. How? By trusting anyone other than a qualified CPA to handle your taxes!
Unlock Bigger Deductions on Rental Real Estate
Many rental property owners are surprised to learn that federal tax law often restricts their ability to deduct losses, treating most rental activities as passive unless specific requirements are met. But if you can qualify for the real estate professional exception, you may be able to turn otherwise suspended losses into immediate tax savings.
2026 Tax Law Changes for Businesses
Here’s a sampling of some significant tax law changes going into effect this year:
Estate Planning for 2026 and Beyond
Until recently, much tax uncertainty surrounded estate planning. The Tax Cuts and Jobs Act doubled the federal gift and estate tax exemption to an inflation-adjusted $10 million, but only for 2018 through 2025.
Fortunately for those with larger estates, in 2025, legislation was signed into law that increases the exemption to $15 million for 2026, with annual inflation adjustments going forward — and no expiration date.
Which Parent Gets the Tax Breaks After Divorce?
IRS rules determine who can claim many child-related federal income tax breaks after parents divorce or legally separate.
Taking Control with Self-Directed IRAs
You have until April 15, 2026, the tax filing deadline, to make 2025 contributions to an IRA. If you’re seeking more than the traditional mix of stocks, bonds, and mutual funds, a self-directed IRA offers greater autonomy and diversification. But it also introduces added complexity.