May 19, 2026 / by Brett Hess / Tax
Whether you’re relocating for work, retirement, family or lifestyle reasons, state taxes can have a significant financial impact. Taxes vary widely from state to state. And establishing residency for tax purposes may be more complicated than you expect. Before moving, be sure you understand how changing states could affect your overall tax situation. A variety […]
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Working Teens Can Maximize the Power of Tax-Deferred—or Tax-Free—Compounding With an IRA
October 7, 2026 / by Brett Hess / Tax
Retirement is far from most teenagers’ minds when they get their first jobs. Most young people are more interested in spending their earnings or saving for a shorter-term goal. But those early earnings create a significant financial opportunity: decades of potential tax-advantaged growth. Even modest contributions to an IRA now can substantially multiply over time. […]
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Consider an Installment Sale to Optimize Taxes When Selling Your Business
October 5, 2026 / by Brett Hess / Tax
Over the years, you’ve invested blood, sweat and tears into building a successful small business. Now it’s time to sell and move on to the next chapter of your life. What are the tax implications of selling — and how can you reduce or defer your taxes? One possible solution is an installment sale. How […]
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Be Tax-Smart With Your Mutual Fund Investments
August 28, 2026 / by Brett Hess / Tax
Mutual funds offer an easy way to invest in a diversified portfolio compared to buying individual stocks and bonds. But the tax treatment of mutual funds isn’t so simple. How are mutual funds taxed? If you sell appreciated mutual fund shares, the resulting profit will be taxable. If you’ve held the shares for one year […]
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Understanding IRS Hobby Loss Rules
July 24, 2026 / by Brett Hess / Tax
Dear Client, We want to highlight an important IRS rule that may affect taxpayers who report business losses on Schedule C. If your business shows a loss in a given year, the IRS applies what is commonly referred to as the “hobby loss” rule to determine whether the activity qualifies as a legitimate business. What […]
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When the Sale of an Appreciated Home Triggers Taxes — and When It Doesn’t
June 25, 2026 / by Brett Hess / Tax
Home values have risen significantly in many areas of the country over the last several years, leaving some homeowners with substantial gains when they sell. Of course a large profit is generally a good thing. But, depending on the amount of your gain, how long you’ve owned and resided in the home, and your income […]
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Important Tax Notice: You May Be Entitled to a Refund of COVID-Era Penalties & Interest
June 12, 2026 / by Brett Hess / Deadlines, Tax
Dear Client, We want to make you aware of an important recent court ruling that may benefit you. In Kwong v. United States, the U.S. Court of Federal Claims ruled that certain tax penalties and interest charged between January 20, 2020, and July 10, 2023, were improperly assessed under federal law. This covers tax filings […]
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The “Kiddie Tax” Can Apply Long After Childhood
June 10, 2026 / by Brett Hess / Tax
Many parents don’t know that the so-called “kiddie tax” exists. Others assume it affects only minor children. But it also can apply to full-time students through age 23 and 18-year-olds even if they aren’t full-time students. When it applies, most of the child’s unearned income may be taxed at the parent’s higher tax rate. The […]
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Moving to a New State? Review the Tax Implications First
May 19, 2026 / by Brett Hess / Tax
Whether you’re relocating for work, retirement, family or lifestyle reasons, state taxes can have a significant financial impact. Taxes vary widely from state to state. And establishing residency for tax purposes may be more complicated than you expect. Before moving, be sure you understand how changing states could affect your overall tax situation. A variety […]
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Individual Tax Calendar: Key Deadlines for the Remainder of 2026
April 22, 2026 / by Brett Hess / Deadlines, Tax
Yes, the April 15 tax deadline is now behind us. But there are also deadlines during the rest of the year that are important to be aware of. To help you not miss any, here’s when some key tax-related forms, payments and other actions are due. Keep in mind that this list isn’t all-inclusive. There […]
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Don’t Miss Your Opportunity to Make a 2025 IRA Contribution — Whether You Can Deduct It or Not
March 26, 2026 / by Brett Hess / Deadlines, Tax
Generally, each year you can contribute up to the annual limit to a traditional or Roth IRA (or a combination of the two). But once the contribution deadline has passed, the opportunity to contribute for that year is lost forever. The deadline for 2025 IRA contributions is April 15, 2026. You may be eligible to […]
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