Tax Law
Relief For Some 2023 IRA RMDs
Submitted by Desmond Wealth Management, Inc. on November 8th, 2023Donating Clothing to Goodwill and the Salvation Army
Submitted by Desmond Wealth Management, Inc. on November 8th, 2023As the year comes to a close, many taxpayers consider making clothing and household item donations both to give back and to optimize their tax deductions.
Recent cases, like the one involving Duncan Bass, underscore the significance of understanding and adhering to IRS regulations related to these contributions.
Have You Gotten Bad Tax Advice From Novices?
Submitted by Desmond Wealth Management, Inc. on October 27th, 2023Obscure and Overlooked Tax Deductions, Credits, and Benefits
Submitted by Desmond Wealth Management, Inc. on October 17th, 2023As tax time approaches, here are some tax issues that taxpayers frequently overlook, ranging from obscure deductions to overlooked tax credits and benefits. Of course, not everything can be included since the tax law has grown significantly in complexity, and it would take a thick book to list everything.
Planning for Your Retirement – New Wrinkles from the SECURE 2.0 Act
Submitted by Desmond Wealth Management, Inc. on October 11th, 2023Will the Recently Passed Pension Legislation Affect You?
Submitted by Desmond Wealth Management, Inc. on June 19th, 2023Commonly Asked Tax Questions
Submitted by Desmond Wealth Management, Inc. on May 1st, 2023Wow! You Can Now Get a Tax Credit For Buying a Used Electric Vehicle
Submitted by Desmond Wealth Management, Inc. on March 4th, 20232023 brings with it a whole new set of rules related to qualifying for a tax credit for purchasing a used electric vehicle. This is the first time that used electric vehicles have qualified for a tax credit, and although considerably less than the credit for purchasing a new electric vehicle, it does provide an incentive for lower-income taxpayers to acquire an electric vehicle.