Tax

IRS Throws Salt in the SALT Deduction Limit Wound

The Tax Cuts and Jobs Act of 2017 introduced a limit for deductions on state and local taxes. Some states hoped to get around that through charitable contributions. But the IRS says no. In August of 2018, the IRS released new proposed regulations (technically, they are amendments to existing regulations) to deal with states’ recent …

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5 Things You Can Do With an IRA That You Can’t With a 401(k)

IRA or 401(k)? Know the key differences between these two popular retirement plans to ensure you are saving in the right account. Indvidual retirement accounts (IRAs) and 401(k) s share a lot of similarities. They are both retirement plans. They both can help you lower your tax bill today, provide taxdeferred growth, and help provide …

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