by Marilou Davido | Jun 14, 2023 | Resources
An estate plan is a collection of documents that specify how you want your money and other assets distributed, making it easier for your loved ones to handle your affairs during a time of grief. 6 Major Components of an Estate Plan Beneficiary Designations –...
by Marilou Davido | Jun 9, 2023 | Resources
The federal Itemized Deduction is the total of four main categories of allowable deductions: medical expenses, taxes paid, interest paid, and gifts to charity. Limitations may apply to each of these categories. Medical Expenses You can deduct medical and...
by Marilou Davido | Jun 8, 2023 | Resources
Coverdell Education Savings Account A Coverdell Education Savings Account (ESA) is a trust account that assists families in funding educational expenses. While ESAs offer greater control, they are much more restrictive when it comes to contributions, income level...
by Marilou Davido | Jun 5, 2023 | Resources
Education Related Federal and Wisconsin Tax Deductions and Credits Federal Student Loan Interest Deduction Student loan interest is interest you paid during the year on a qualified student loan. You may deduct the lesser of the (1) annual IRS limit or (2)...
by Marilou Davido | Apr 18, 2023 | Resources
You can check the status of your 2022 federal and Wisconsin income tax refunds 24 hours after e-filing. You can also check the status of amended returns as well as make liability payments. View this 3-minute How To video. Watch...
by Marilou Davido | Apr 5, 2023 | Resources
You should keep your tax documents at least until the Statute of Limitations runs out. The Statute of Limitations is the period of time during which the taxing authority can audit and assess taxes on a taxpayer. IRS – three years from (1) the due date of the return OR...
