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For many people, helping to pay for their children’s or grandchildren’s education is one of their main financial goals. It’s admirable to want to put your wealth toward bettering the next generation. 

Parents and grandparents of high school students have a wistful feeling about the child they’ve watched grow up, as well as a concern for what lies in their future. It’s only natural to want to help that future scholar navigate their financial hurdles to a great education.

Let's admit it: Planning for taxes is not the most fun activity. There are likely (many) other things you would rather be doing. But accurate tax planning is important for your overall financial health.

Tax season is officially here. If you haven’t already done so, now is the time to get prepared. Whether you meet with a tax professional or prepare your taxes yourself, proper planning helps the processes go more smoothly and may reduce the risk of costly errors.

If you’ve been named a beneficiary or inherited an IRA, you’re likely facing some tough questions ⁠— what are the next steps and what happens now?

To help raise revenue to pay for President Biden’s Build Back Better Plan, Congress is considering a number of tax law changes, including adjusting estate taxes.

It's never too early to start looking at your tax obligations for the coming tax season. The information in this article is for the 2023 tax year, which most taxpayers will file in 2024.

Rushing to file your tax return before the deadline may mean making mistakes that could have been avoided. Even now, there is still plenty you can do to plan ahead and prepare before filing your taxes. Here are eight steps designed to help tax filers save money and avoid surprises when filing this year. 

Step #1: Figure Out Your Filing Status

Preparing a strategy that is both advantageous and tax-efficient might feel daunting at first. Thankfully, there are some things you can do now to keep from overpaying this tax season.

Build Your Team of Professionals

Between gathering the necessary paperwork and working through complicated scenarios, tax season can be a stressful time. You’ve worked hard throughout the year, and you want to be sure you’re taking the right measures to get the maximum amount back on your return.