Bedel Blog

With TCJA expiring on 12/31/2025, tax-free rollovers are also set to expire. There is, however, a bill called the ENABLE Act that would make tax-free rollovers permanent. The ENABLE Act becoming law seems promising, as it passed the United States Senate in September 2024.

With the passing of the SECURE 2.0 Act, donors over the age of 70.5 can now make a once-in-a-lifetime distribution from an IRA to a Charitable Gift Annuity through a qualified charitable distribution (QCD).

Having a sizable amount of taxable income sounds and feels great until tax time. Make a point to talk with your tax preparer or financial advisor to do an estimated tax projection mid-year and develop a plan for minimizing taxes that makes sense for you.

Taxpayers underwent a dramatic change in late 2017 with the passage of the Tax Cuts and Jobs Act (TCJA). In another two years, we may undergo another dramatic shift.

Awareness of gift tax rules is imperative when structuring a strategy. Whether gifting to adult family members or children, there are many ways to find a balanced approach to transferring assets.

Private equity presents an enticing proposition for investors seeking enhanced returns and diversification beyond traditional asset classes.

Retirees can maximize their retirement wealth by implementing tax-efficient strategies such as Roth conversions, realizing gains in the 0% bracket, and withdrawing pre-tax funds in the 10 and 12% brackets.

To qualify for a 1031 exchange, a few characteristics must be met. First, the property that you are selling (known as the relinquished property) and the property that you are purchasing (known as the replacement property) must be what the IRS deems “like-kind.”

The Kiddie Tax applies to children under 19 years old and full-time students under 24 who don't support themselves financially. The tax is assessed on unearned income received by children who meet previously noted age requirements.

Tax season can be a stressful time for many of us. Spending extra time on preparation can make the whole process run more smoothly and avoid the kind of errors that a slapdash approach can engender.

What should you do when you get a large refund? If you have any debt, specifically high-interest debt, one of the best uses of your tax refund would be to pay down that debt.

Only this year has the FDIC insured Savings Portfolio yield become attractive. Combining it with the tax-free potential and the state tax credit makes it a fantastic opportunity for those setting aside money for upcoming education expenses.

To qualify as a QCD, the gift must be made directly from an IRA account. Employer plans, such as 401ks or 403bs, aren’t eligible for QCDs, just IRAs.

Social Security benefits are an essential piece of many retirees' financial plans. Most people know they are entitled to benefits based on their own record or earning history, but did you know that you are also eligible for benefits on your spouse's earnings?

Suffice it to say there are ample estate planning techniques to help reduce your gross estate amount before death. Portability can play an important role in your estate planning.

There are many different ways to support charitable causes aside from making financial gifts. Gifts of time and expertise are also highly valued by charitable organizations. If you donate monetarily to charity, reevaluate your strategy for simplicity or tax efficiencies.

Unfortunately, even as tax prep software evolves, several common mistakes prevail. So how can you avoid these common (and costly) errors?

In December of each year, many mutual funds pay out capital gains. These payouts go to whoever owns the mutual fund on the "ex-dividend" date. These capital gains are gains incurred over the entire year. However, if you purchase the fund the day before the ex-dividend date, you will only own the fund for one day, but you will end up with the entire year's capital gain distribution.

Indiana is incentivizing Indiana taxpayers with a 50 percent tax credit when they donate to eligible SGOs. The program supports students and families in financial need while financially rewarding donors. Indiana's School Scholarship Tax Credit Program is a win-win for everyone!

Completing time-sensitive tax-related actions sooner rather than later means your focus can be on what truly matters during the holiday season – spending time with family and friends.

High yield, investment grade, long-term, and intermediate bonds have taken large hits. Only short-term and adjustable-rate bonds have largely escaped the carnage. So what is happening to the bond market, and what should you do?

Having high taxable income sounds and feels great until tax time. Know that short and long-term capital losses can offset long-term capital gains.

Are changes to the SECURE Act on the way? It is important to be at the forefront of what is on the table so proper due diligence can be taken in advance of any enactment of proposed acts.

Tax-loss harvesting can be one of the few benefits of a market selloff. However, you want to make sure you can use that benefit on your taxes, so knowing the wash-sale rule is important.

The “Roth Conversion Ladder” strategy isn’t for everyone, but anyone considering early retirement should know about it. Pay the tax early, let the funds grow, count to five (years), and withdraw your principal both tax and penalty-free.

When the SECURE Act first passed, the rules seemed straightforward. In practice, we are now encountering individuals who have more than one Inherited IRA account and possibly different distributions plans for each one.

When it comes to tax law and estate planning regulations, Congress is, if nothing else, unpredictable. While the Build Back Better bill appears to be dead in its current state, another bill will soon follow, offering up its own set of planning challenges.

When Harry met Sally, they bought a wonderful home for $50,000. They loved their home, neighborhood, and the fond memories created there. However, when Harry passed away, Sally decided it was time to move. Now, Sally is left wondering what the tax consequences might be.

If you typically get a large refund or end up owing a significant amount at tax-filing time, or your tax filing status or earned income changes, you may want to adjust form W-4.

Earlier this year, the American Rescue Plan authorized a portion of the Child Tax Credit to be paid to eligible taxpayers monthly but don’t spend those funds right away. If your financial situation has changed, you may have to pay some of those dollars back!

The American Rescue Plan (ARP) has more than just stimulus payments to offer. If you qualify for the enhanced child tax credit, be on the lookout for the IRS portal rollout in a few months. Many families have benefited from child tax credits in years past, but the enhanced credit differs in several ways.

Just $1 too much could cost you your entire rebate. Reducing your adjusted gross income can help maximize your rebate without costing you a dime.

So, you hired a nanny to reduce the pandemic chaos. But did you think about the tax issues involved? It’s worth taking the time to structure household employee arrangements at the beginning of an engagement, so everyone involved is protected from day one.

After months of debate, Congress finally passed round two of economic relief. Along with the allocation of spending dollars, what are some of the other benefits for taxpayers?

There is always fluidity with tax proposals. However, it is best to have a plan in place for whatever uncertainty may lie ahead. Review your options with your financial and tax advisors.

When it comes to estate planning, current policies have never been more favorable than today. Everyone’s goals and intentions for wealth transfer are different, so customizing a strategy that fits your needs is the most important first step.

If you are a cryptocurrency fan, heads up! As cryptocurrency investing becomes more popular, the IRS will shine a larger spotlight on tax reporting.

Spend some time now getting your 2020 tax picture in order. In just a few months, 2021 will arrive. Here are several things to consider before the calendar turns over.

As a financial planner, my focus is on helping our clients achieve their goals, which means maximizing every dollar. This requires a complete understanding of the client's current tax situation, foresight on how their taxable income will look in future years, and some educated guessing on where tax rates may be. The goal is to pay as little tax as possible.

You don’t need to wait until the end of the year to take advantage of tax-loss harvesting. Minimizing your tax obligation through effective tax-loss harvesting strategies can help your investment portfolio grow.

Looking to provide scholarship funds to your alma mater or favorite school? Gifting to a scholarship-granting organization (SGO) allows you to do just that while also realizing great tax benefits. Read on for all the details to help you put money in your alma mater’s pocket, while keeping a bit more in your own!

Taxes are an important consideration in investing. They should not be the sole driving force behind investment decisions, but investors should take them into consideration.

What if I told you a Health Savings Account is the most tax efficient and versatile retirement account you own? Believe it or not, with proper planning, an HSA can blow the doors off your 401(k), IRA, or even a Roth IRA!

By law, Health Savings Accounts are so tax-efficient they may be the best investment vehicle available. Then why are we not maximizing their use?

Paying off your mortgage can be a very attractive option when you find yourself with extra money. Not so fast, though! Is paying that mortgage off really your best financial option? While being mortgage-free can definitely be a good thing, you should be sure it doesn’t make more sense to invest that money. We’ll walk you through what you should be thinking about to make the best decision for your situation.

Opportunity zone investing might not be a phrase you’re familiar with, but they can be a nice tax advantage for those with unrealized capital gains in their portfolio. We explain what opportunity zone investing is, and how you can determine if this type of investing works for your portfolio.

With 2019 being the first year to file under the Tax Cut and Jobs Act, many Americans are finding themselves faced with a tax bill due to Uncle Sam. Unsure how this happened, how to pay for your tax burden, or what you can do to prevent another tax bill in the future? Read on for the details.

It’s almost tax time, and along with that comes a new standard deduction that could shake up how you file your taxes. If you’ve been used to itemizing your deductions, this year might be the first where you take the new larger standard deduction. We’ve broken down who might itemize versus who will likely benefit from taking the deduction, along with tax strategies you can employ right now to benefit your tax situation in 2019.

With just over two months left in 2018, now is a good time to start your tax planning, and analyzing your capital-gain situation could result in a lower tax bill come Tax Day 2019. By considering various strategies to offset your capital gains, you could reduce your tax impact and keep as much of those gains in your pocket as possible.

As part of the tax law changes enacted earlier this year, the rules regarding Roth accounts have also been updated. Be sure you understand the new Roth rules and how they could impact you and your wallet.

Wondering how future investing and tax strategies might be impacted by changes outlined in the Tax Cuts and Jobs Act? What’s changed and what’s stayed the same? We have you covered - we’ve compiled a list of those changes that might be most pertinent to you, as you consider your investment and tax strategies.

How would you like to save on your next pair of glasses or your child’s preschool tuition? You don’t need a coupon and you won’t have to negotiate a deal – all you need is a Flexible Spending Account.

What’s the one deadly sin that can ruin your financial future? Answer: Spending when you should be saving! If you are part of the millennial ...

Are you interested in simplifying your charitable giving? Or, perhaps you want to reduce your tax liability in a high income year. Do you have ...

It’s not fun to watch your portfolio decrease in value, but there is a way to make lemonade out of lemons!

As we write this, the stock market seems to be on course for its first down year since 2008. While not fun, drops in the stock market are natural and should be expected from time to time.

If you are over 70 ½, read this article! The Internal Revenue Service requires you to withdraw a minimum amount each year from your retirement accounts. If you don’t need the money, you have options that can reduce your taxes either this year or in the future.