CARES Act, Giving, taxes

Something Good

We have made it through the bulk of 2020 and as we begin to reflect on our year and look to the future, I want to share something good that came out of the CARES Act in March. For the first time since the 1980’s, you can take a $300 deduction for charitable contributions even if you do not itemize…

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CARES Act, Update, Withholding

Executive What?

Now that Congress is out of session for their summer vacation, the President left some notes for his Cabinet before he, too, left the White House. Leaving all politics aside, let’s dive in to the notes that were passed after class. Click on the title to read each item directly on the White House website: Executive Order on Fighting the…

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taxes

Planning; It Is About Taming Chaos

I think it is safe to say that most of us are living in a state of uncertainty. Confusion abounds and we are starting to get a bit stir crazy. Our frustrations from not being able to do the activities that we enjoy or having a night on the town or even knowing when or if we will go back…

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taxes

A Brand New Reality, Part 3

Here we are, day 91 of 2020, in a reality that seems stranger than fiction; not only are we being asked to stay away from people, “Tiger King” is trending on Netflix, and our kids’ dream of school being closed has come true. In this bizarre new reality, the constant uncertainty and rapidly evolving economic changes are a source of…

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taxes, Uncategorized

The “Psychology” of Taxes

Growing up in Michigan, the annual camping trip to “The Lake” is a rite of passage. There are other things that were annual traditions while on this camping trip in our family; things like leaving at least ½ of the tent poles at home, setting up and/or taking down camp in the rain, and playing games as a family. These…

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Update

Wrestling with Results

It has been a very interesting three weeks since the IRS opened the e-filing season. We are seeing varied results compared to last year and generally those results are less money coming back to clients as refunds. This causes a state of bewilderment and frustration to those who traditionally count on their refund for certain expenses. We understand that the…

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