by ABIP | May 3, 2021 | News, Newsletter
Are you approaching retirement age and wondering where you can retire to make your retirement nest egg last longer? Retiring abroad may be the answer. But first, it’s important to look at the tax implications because not all retirement country destinations are created...
by ABIP | May 2, 2021 | News, Newsletter
Saving for Education: Understanding 529 Plans Many parents are looking for ways to save for their child’s education and a 529 Plan is an excellent way to do so. Even better, is that thanks to the passage of tax reform legislation in 2017, 529 plans are now available...
by ABIP | May 1, 2021 | News, Newsletter, Taxes
Common Errors to Avoid When Filing a Tax Return While not all mistakes on tax returns cause delays in refunds, some do. 1. Not using electronic filing. While this isn’t necessarily a mistake per se, filing electronically is the best way to cut the chances for many tax...
by ABIP | Apr 5, 2021 | COVID-19, News, Newsletter
Economic Impact Payments: Round Three On March 12, following the American Rescue Plan Act’s approval and signing, the IRS began sending out the third round of Economic Impact Payments. Most payments were sent out via direct deposit, but approximately 150,000 checks...
by ABIP | Apr 3, 2021 | COVID-19, News, Newsletter
Coronavirus-Related Distributions and Loans The Coronavirus, Aid, Relief, and Economic Security (CARES) Act made it easier to access savings in IRAs and workplace retirement plans for those affected by the coronavirus. This relief provided favorable tax treatment for...
by ABIP | Apr 2, 2021 | News, Newsletter, Taxes
Q & A: The $10,200 Unemployment Tax Break Generally, unemployment compensation received under the unemployment compensation laws of the United States or a state is considered taxable income and must be reported on your federal tax return. However, a new tax break...
