Happy August! As the kids (who are we kidding … PARENTS!) get ready to go back to school and last minute summer vacations take shape, we are already starting to prepare for year end. I know, that doesn’t sound right – but it is the truth!
Winning the title
“Best of the Fox”
for tax/accounting earlier this summer was a wonderful surprise and with that comes some wonderful new opportunities as well.
Odds are favorable that we will see tax legislation passed regarding retirement savings and distribution rules. Delayed RMD rules and enhanced savings are top of the list. Stay tuned! FUN FACT - Did you know that of the “23andMe” costs can be paid for by FSA accounts? YEP! If you purchase the medical piece – up to $117 can be utilized from those pre-tax accounts! Another FUN FACT – the IRS is unveiling a special tax form for seniors. The Form 1040SR will be available for 2019 returns for taxpayers over the age of 65. OK, one more FUN FACT – the “postcard” Form 1040 from last year is short lived, as that form is going back to looking a bit more normal as in previous years. Now, wasn’t that fun?
Enjoy the dog days of summer!