Bedel Blog

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.

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.

Now that I-Bond yields are no longer offering the eye-watering yields of 2022, you may be looking to sell. Consider waiting until the November rates are revealed to see if the rates climb back a little higher and make the bonds more attractive versus other options.

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.

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.

Like everything in life, the issue of stock buybacks is not necessarily clear-cut. If done correctly, they can be a helpful tool for management teams, benefiting companies and shareholders alike.

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.

You may have decided to wait until the extended deadline of July 15 to file your 2019 tax return. If so, you may wonder what the "Married, Filing Separately (MFS)" designation is all about. What does it mean, and does it make sense for you?

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.

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.

The cloudy picture presented by historical data from the impact of inflation and tax increases on the market underscores the importance of developing a long-term investment strategy and maintaining your diversified allocation to the proper mix of stock and bonds

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.

Baby Boomers are aging. There's no question; money is shifting hands over the next forty years. The Great Wealth Transfer will look different for everyone.

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.

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

According to the IRS, if you've already taken your RMD, there is still time to replace that distribution and avoid the tax burden. The ability to return the unwanted RMDs only applies to the amount of the RMD withdrawn — and it must be completed by August 31.

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.

The SECURE Act was passed late last year, and it made significant changes that will impact everyone, from young families to retirees. So, how does this new law affect your IRA, minimum distributions, charitable giving, and more?

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!

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!

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.

The standard deduction has nearly doubled under the Tax Cuts and Jobs Act, and as a result, many may no longer itemize their deductions. We’ve outlined three options that will allow you to support the organizations you’re passionate about while also reducing your tax liability at the same time!

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.

A company’s annual performance can affect the stock market – but you might not have considered that how companies spend cash to benefit their shareholders can do just the same. We explore the ways companies routinely spend their cash to benefit shareholders, and what effect each of those ways has on the stock market.

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.

1,097 pages! That’s how many pages are in the Tax Cuts and Jobs Act, signed into law by President Trump on December 22nd. If you haven’t had time to read each page, we’ve broken down the main areas that might have the largest impact on you and your family. It might just be time to update your tax planning strategy for 2018!

Unless you have a crystal ball, it’s hard to predict what tax changes might be coming our way in 2018. But there are several strategies you can implement before December 31st that could better position you to take advantage of the 2018 changes.

When donating to charity, it’s important to develop a strategy that meshes with your financial goals and tax situation.

The featured speaker at Bedel Financial’s annual Financial Forum was Liz Ann Sonders, senior vice president and chief investment strategist at Charles Schwab. Liz Ann touched on a number of issues regarding the economy and the market. Here are the highlights!

During the presidential campaign, both candidates talked about incentivizing corporations to bring their earnings held offshore back to the United ...