Financial Planning
Tax Law Changes Allow Year-End Charitable Planning Opportunities
Submitted by Desmond Wealth Management, Inc. on November 13th, 2020
As the end of the tax year approaches, it is worth spending a few minutes reviewing some of the changes that have been made in the tax laws surrounding donations to charities. In some cases, this guide will serve as a refresher regarding revisions made over the last few years, while in other cases there have been COVID-related changes that you may not be aware of.
Congress Adds More Uses for College Savings Plans (Sec 529 Plans)
Submitted by Desmond Wealth Management, Inc. on February 20th, 2020
On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including extending certain tax provisions that expired after 2017 or were about to expire, retirement and IRA plan modifications and other changes that will impact a large portion of U.S. taxpayers as a whole.