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

Tax Deadlines

Retirement Plan Contribution Limits

Individual Retirement Accounts

Health Savings Accounts

Deductibility of Long-Term Care Premiums on Qualified Policies

Medicare Deductibles

Social Security

Medicare Premiums

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.