Posts by Alegria Network Administrator

When a loved one dies, taxes are probably not your first concern. But the IRS requires family members (or executors) to address unfamiliar and sometimes overwhelming tax considerations during this difficult time. Here are three important facts that you should know as you wind up a deceased person’s estate. 1. Inherited Assets Get a “Step Up” in…

Open enrollment for health care benefits has begun at many companies. If your employer lets you choose from a menu of health care plans, it’s important to review your options carefully. Medical costs keep going up. The average cost for a hypothetical family of four covered under an employer-sponsored preferred provider organization (PPO) plan is projected to…

As the holidays approach, it’s time to consider tax planning moves that will help lower this year’s tax bill, as well as set you up for tax savings in future years. The good news is that it appears there won’t be any significant unfavorable federal tax changes that will take effect next year. Assuming that’s an…

When you buy a home, chances are high that you will eventually sell as your life changes over time. In the United States, it’s estimated that homeowners change residences every five to seven years.So when you’re house hunting, it’s important to keep resale value in mind. Some features you may find desirable may not appeal to…

When you adopt a child, you could bring home more than a bundle of joy. You may also be in line for a valuable tax credit. For 2023, a tax credit of up to $15,950 for adoption of a special needs child can come in handy for qualified parents facing the daunting costs of adoption (up…

Successful estate planning generally involves passing on your assets to your heirs at a low tax cost. To help achieve that goal, there are a few things to keep in mind about retirement accounts. Required Minimum Distribution FactsUnder tax law, you cannot keep money in a traditional IRA indefinitely. Eventually, it must be distributed. The amount…

Some taxpayers may be unaware of all the federal tax reporting requirements for cryptocurrency transactions — especially when it comes to issuing and receiving a Form 1099 for 2023. If you buy something with cryptocurrency, you won’t receive one. However, you may receive a Form 1099 if you receive a crypto payment.  Alert for Businesses Receiving Crypto PaymentsThe…

The Setting Every Community Up for Retirement Enhancement (SECURE) Act brought numerous changes to the retirement and estate planning landscape in late 2019. Congress followed up with the SECURE 2.0 Act in late 2022. This law introduced some additional taxpayer-friendly changes, including an increase in the limits for retirement account catch-up contributions for individuals who are…