It is a good idea every year to familiarize yourself with the changes in key tax information that affects your tax liability.
We have attached for your review a summary of the changes for 2021
Here are just a few of the items it covers:
2021 Tax Rate Schedule
Standard Deductions & Child Tax Credit
Tax Rate on Long-Term Capital Gains and Qualified Dividends
Net Investment Income Brackets
Exemption Amounts for Alternative Minimum Tax
Gift and Estate Exclusion and Credits
Education Credits, Deductions and Distributions
Retirement Plan Contribution Limits
Individual Retirement Accounts
Health Savings Accounts
Deductibility of Long-Term Care Premiums on Qualified Policies
Uniform Lifetime Table
Please feel free to contact us with questions.
We are confident that tax reduction planning and strategy will become an ever-increasing part of your overall financial planning.