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10 Things to do with a Bonus

Jan 25, 2022
Before you spend your bonus or other financial windfall, take some time to consider how you might use the money so that it has a lasting impact on your life and other people's lives. Here are a few ideas.…

Time Sensitive Information About RMDs

Jul 16, 2021
The IRS has recently provided additional guidance pertaining to 1) the waiver of required minimum distributions – in particular for those who took distributions in January or February, and 2) added clarification…

Your Tax Filing Status

Jan 14, 2021
On your federal income tax return, you are asked to choose a filing status. For some taxpayers, the choice is clear. But if your marital status changed recently or more than one filing status applies to…

The 2021 Tax Tables are Now Available for Download

Jan 19, 2021
Davis & Hodgdon has published the 24th annual edition of the firm’s tax table brochure. You can download the 2021 tax tables brochure on our Resources page or simply click here!   

5 Things to Know About Charitable Gifts That Pay You Income

Apr 15, 2021
A type of charitable gift known as the income gift can help you fulfill your philanthropic goals and generate an income stream for yourself or others. Here are five things to know about gifts that pay…

Your Child’s Investment Income and Taxes

Apr 22, 2021
Even young kids may have to pay tax on their investment income, depending on the amount they receive during the year. If their unearned income – interest, dividends, capital gains, and certain other types…

Extended Expiring Tax Breaks

Jun 17, 2021
Late in 2020, Washington extended many temporary tax provisions as part of the Consolidated Appropriations Act, 2021. A few extensions that may affect your personal income taxes are summarized here. Charitable…

How to Make the Most of Your 401(k)

Jun 24, 2021
How well you manage your 401(k) in your working years can have a big impact on your financial security in retirement. The following tips are designed to help make the most of your 401(k), from the time…

Tax-Savvy Giving: Using a Donor-Advised Fund for Your Charitable Giving

Jul 13, 2021
Donor-Advised Funds (DAFs) have been around for a while, but lately they are gaining more attention as an effective tax planning tool. Utilizing a DAF could pay off for you come tax time. So how does…

The Federal Gift Tax – What You Need to Know

Jul 30, 2021
The following is important information regarding the federal gift tax and what you need to know about it. The gift tax is a tax on assets that are given away during the donor’s lifetime.In contrast, the…