Year-End Charitable Giving
With the holiday season upon us and the end of the year approaching, we pause to give thanks for our blessings and the people in our lives. It is also a time when charitable giving often comes to mind. The…
Will I Have to Pay Back the Child Tax Credit?
Important changes to the Child Tax Credit will help many families get advance payments of the Child Tax Credit. Half the total credit amount will be paid in advance monthly payments and you will claim the other half when you…
Hostage Data: Ransomware and Protecting Your Digital Information
On May 7, 2021, the Colonial Pipeline, which carries almost half of the East Coast's fuel supply from Texas to New Jersey, shut down operations in response to a ransomware attack. Colonial paid a $4.4 million ransom not long after…
Investing for Major Financial Goals
Go out into your yard and dig a big hole. Every month, throw $50 into it, but don't take any money out until you're ready to buy a house, send your child to college, or retire. It sounds a little…
Federal Student Loan Interest Rates Set to Increase for 2021-2022
After two years of decreases, interest rates on federal student loans are set to increase almost a full percentage point for the 2021-2022 school year.1 The interest rates on federal student loans are reset each year after the May auction of…
Retirement Planning: The Basics
You may have a very idealistic vision of retirement — doing all of the things that you never seem to have time to do now. But how do you pursue that vision? Social Security may be around when you retire,…
American Families Plan Would Provide Benefits for Some, More Taxes for Others
On April 28, 2021, the White House released a fact sheet for President Biden's American Families Plan (AFP), which proposes about $1 trillion in investments and $800 billion in tax cuts. There would also be tax increases for those making…
Enhanced Child Tax Credit for 2021
If you have qualifying children under the age of 18, you may be able to claim a child tax credit. (You may also be able to claim a partial credit for certain other dependents who are not qualifying children.) The…
Client Alert: Revised Maryland Tax Forms are Available
All individual tax forms have been revised and are ready to use for Maryland's 2020 tax year. Taxpayers who have been waiting for the revision of forms to amend their taxes to take advantage of an unemployment insurance subtraction can…
Q1 2021 Stock Market Commentary
The market continued to surge higher as we said goodbye to 2020 and hello to 2021. Additional stimulus, mass vaccinations, and hopes for a return to a fully opened economy provided a nice backdrop for the market to further its…