The deduction, available for tax years 2025-2028, offers up to $12,000 if married filing jointly and $6,000 for all other filers. Unfortunately, the deduction has a low phaseout range of $150,000-$250,000 if married filing jointly and $75,000-$175,000 for all others. For many seniors with required minimum distributions (RMDs), pensions, Social Security benefits, and investment income,…
Time is running out to make charitable contributions for 2025. With year-end approaching, now is the time to think about whether it makes sense to contribute in 2025 or wait until 2026. The new One Big Beautiful Bill Act (OBBBA) passed in July 2025 introduces several important changes that will impact charitable deductions starting next…
The season of giving is almost here, and now is the perfect time to revisit your charitable plans with your financial advisor. Thoughtful planning can help you maximize both the impact of your gifts and the tax benefits you receive. Looking ahead, starting in 2026 the new One Big Beautiful Bill Act (OBBBA) will bring…
Financial advisors regularly see this question come up from individuals and couples who are focused on multigenerational planning: What’s the difference between estate and gift taxes, and how do I make sure Uncle Sam doesn’t take more than his fair share? Avoiding estate taxes is top of mind for many clients who want to protect…
August is often the last hurrah of summer—pool parties, back-to-school sales, and squeezing in every bit of sunshine. But for the one in six American adults with student debt, fall also brings less-welcome considerations: loan interest, repayment changes, and the big question, “What does this mean for me?” This year, there’s even more to unpack….
The One, Big, Beautiful Bill Act (OBBBA) has introduced significant tax changes that could affect families across the country. While many of the provisions aim to provide financial relief, the new rules can be complex. Below is an overview of the key changes. Adoption credit enhanced Parents who adopt may be eligible for more generous…
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