Deduction bunching The strategy of deduction bunching is aimed at shifting the timing of deductible expenses by bunching them together within the same year, to surpass the standard deduction amount. The goal is to time your deductions in such a way that you can itemize every few years, while … [Read more...]
How does the tax strategy of deduction bunching work?
Where is my stimulus payment?
As the coronavirus (COVID-19) continues to affect our country and local communities, we want to provide some clarity to the tax-related provisions of the CARES Act. The "economic impact payments" for individuals have garnered the most interest and have received a great deal of media attention over … [Read more...]
Recorded Webinar: Advisory Panel Discussion and Q&A
On June 11th the Windward Private Wealth Management advisors held an advisory panel discussion online. The first part of the webinar we discussed: Planning opportunities around Health Savings Accounts (HSAs) Tax saving strategies around home office planning and more Investment mistakes … [Read more...]
The Scoop on Recovery Rebates
You've probably heard that IRS will be making millions of "economic impact payments" (also called "recovery rebates") in the coming months to help people stay afloat during this time of economic uncertainty related to the COVID-19 crisis. Here's what you need to know about this program. Amount of … [Read more...]
Updates: 2019 Taxes, Retirement Contributions, and CARES Act
As the coronavirus (COVID-19) continues to affect our country and local communities, we hope this note finds you and your families healthy and safe. Since our last email on March 20th, there have been significant tax changes enacted on both the Federal and state level. The Treasury Department and … [Read more...]