With the first post-tax reform filing season in full swing, people all over Kansas City are having to adjust to tax refunds much larger or much smaller than the refunds they are used to receiving. Whether you prefer to receive a big refund or not, nobody enjoys a big surprise when their tax returns … [Read more...]
Windward Tax Bulletin: The Pros and Cons of a Big Tax Refund
Windward Community: Tax Time!
Windward is hot and heavy in to tax season! We don’t mind that the recent Kansas City weather has been so wet and cold because we are working away on tax returns. This tax season we have hired a tax season intern, Claire Hessenflow. Claire is from the Kansas City area and is an Accounting and … [Read more...]
Windward Tax Bulletin: Deduction Bunching and Donor-Advised Funds
The new year is here, bringing with it lots of snow for the Kansas City area and the start of another tax season. Despite the ongoing government shutdown, the IRS has announced the 2019 tax filing season will officially begin on January 28th. However, it won’t just be another year, another tax … [Read more...]
Windward Tax Bulletin: Required Minimum Distributions
What are required minimum distributions (RMDs)? Required minimum distributions, often referred to as RMDs or minimum required distributions, are amounts that the federal government requires you to withdraw annually from traditional IRAs and employer-sponsored retirement plans after you reach age … [Read more...]
Windward Passages: 2018 Year-End Tax Planning Basics
The window of opportunity for many tax-saving moves closes on December 31, so it's important to evaluate your tax situation now, while there's still time to affect your bottom line for the 2018 tax year. Timing is everything Consider any opportunities you have to defer income to 2019. For example, … [Read more...]