Social Security was originally intended to provide older Americans with continuing income after retirement. Today, though the scope of Social Security has been widened to include survivor, disability, and other benefits, retirement benefits are still the cornerstone of the program.…
The 2018 family maximum Health Savings Account contribution limit is $6,900. It has been widely reported, erroneously, that the limit remains at $6,850. The 2018 single maximum HSA deposit limit is $3,450. One financial planning strategy everyone can use is…
There's still time to make a regular IRA contribution for 2017! You have until your tax return due date (not including extensions) to contribute up to $5,500 for 2017 ($6,500 if you were age 50 by December 31, 2017). For…
Filing deadline for most individuals: Tuesday, April 17, 2018 Monday, October 15, 2018, if you file for an automatic six-month extension by the original due date The federal income tax filing deadline for most individuals is Tuesday, April 17, 2018. That's because…
Many people view their annual tax refund as a bonus or windfall to use as they wish. This timely video encourages you to consider how you might use a tax refund to help better yourself financially - e.g., by paying…
We are proud to be recognized by Expertise as one of Baltimore’s Top Financial Advisors! That’s no secret to our clients who have trusted in our fiduciary based services for 20 years. As we celebrate 20 years in business, we…
All financial advisors, CPAs and tax preparers are not created equal! At Chesapeake Financial Advisors, we combine our expertise in financial planning and taxes to provide clients with a service level that provides them with tax advice and preparation that…
Refunds in 2018 Choosing e-file and direct deposit for refunds remains the fastest and safest way to file an accurate income tax return and receive a refund. The IRS expects more than four out of five tax returns will be…
Tax Filing Season Begins Jan. 29, Tax Returns Due April 17 The IRS will begin accepting tax returns on Jan. 29, 2018 with nearly 155 million individual tax returns expected to be filed in 2018. The nation’s tax deadline will…
The beginning of the New Year brings increases to the contribution limits for 401k, 403b, and 457 plans. You can now contribute up to $18,500. This is an increase of $500 from 2017. Additionally, if you are over the age…