News
How to Change Your Scheduled Federal Income Tax Automatic Withdrawal Payment Date
Dear Valued Clients and Friends, The Treasury Secretary has extended the federal income tax filing and payment deadline for individual and some corporate returns from normal tax deadline of April 15th, to July 15, 2020. It appears that MN and WI will follow suit with...
read moreFederal Income Tax Filing & Payment Update due to COVID-19
Dear Valued Clients and Friends, As many of you are already aware, the Treasury Secretary announced this morning that the Federal government has extended the income tax filing and payment deadline for individual and some corporate returns for 90 days beyond the normal...
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Individual Year-End Tax Planning for 2019
Year-end planning for 2019 takes place against the backdrop of recent major changes in the rules for individuals. Changes impacting your individual tax planning for 2019 include:
• Lowered income tax rates
• A boosted standard deduction
• Severely limited itemized deductions
• No personal exemptions
• An increased child tax credit
• A watered-down alternative minimum tax
Tax-Planning Opportunities for Businesses and Business Owners
You may be entitled to a deduction of up to 20% of your qualified business income. This deduction may be limited if your taxable income exceeds $321,400 for a married couple filing jointly, $160,700 for singles and heads of household, and $160,725 for marrieds filing separately.
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How to Maximize Your Tax Benefits From Medical Expenses This Year
There are some strategic moves related to health-care costs that you might be able to make this year to maximize their tax benefit before the tax deadline in April, 2019. Experts say it's worth exploring, as the cost of health care continues its upward trajectory....
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6 Habits of Above Average Retirement Savers
Retirees generally need their savings to last 30 years or more, which is concerning since the average balance for retirement accounts is only $100,000. Acquiring these good retirement savings habits may make it more likely that your portfolio will grow enough to...
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HW & Associates, LLC
12301 Whitewater Drive
Suite 115
Minnetonka, MN 55343
Phone 952.939.0910
Fax 952.939.0980
