Tax Reduction Considerations
Did you max out an HSA if you have one? Did you max out your 401(k)? Did you take advantage of a QCD?
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16 Jun, '22
ChrisGranger AdminHighlighted comment
"When to itemize versus claim the standard deduction" (suggested by Holly on 2020-07-10), including upvotes (2) and comments (1), was merged into this suggestion. Original language from this merged suggestion: "Flowchart to help clients understand when they should itemize and when they should claim the standard deduction." -
13 Jun, '22
ChrisGranger Admin Merged"Checklist of common itemized deductions" (suggested by Matt on 2021-04-15), including upvotes (1) and comments (0), was merged into this suggestion. Original language from this merged suggestion: "I feel like I am always googling this and sending random links to clients. Just a simple checklist of some of the most common deductions so clients are making sure they are optimizing their itemization if they exceed the standard deduction."
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16 Jun, '22
ChrisGranger Admin"Comparing pre/port TCJA tax rates" (suggested by Bradley on 2022-05-25), including upvotes (1) and comments (0), was merged into this suggestion. Original language from this merged suggestion: "Side by side comparison of tax rates before and after TCJA, showing also what they will sunset to in 01/2026."
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16 Jun, '22
ChrisGranger Admin"Calculating an IRD Deduction" (suggested by Walter Pardo on 2020-06-04), including upvotes (2) and comments (0), was merged into this suggestion. Original language from this merged suggestion: "IRD (Income in Respect of a Decedent) deduction is a way
of offsetting the impact of double taxation (federal estate tax and income tax) on certain inherited assets. It’s an income tax deduction for the beneficiary (miscellaneous itemized deduction, not subject to limitations)."