FEATURED ARTICLES & TAX TIP BLOG

Welcome to the KM&M CPAs Featured Articles & Tips Blog. Here we share tax and accounting news and tips for our clients on a regular basis. Please feel free to suggest ideas for topics you would like to see addressed, by dropping an email to kmm@kmmcpas.com. Enjoy the articles and susbcribe to our newsletter for more updates.

Student Loans: Pay Off Early or Save More for Retirement?

Student Loans: Pay Off Early or Save More for Retirement?

Pinnacle Wealth Planning Services, Inc. — For adults with student debt and extra money on hand, deciding whether to pay off student loans early or put those funds toward retirement can be tricky. It’s a financial tug-of-war between digging out from debt today and...

read more
Now’s a Good Time to Consider a Roth Conversion

Now’s a Good Time to Consider a Roth Conversion

Pinnacle Wealth Planning Services, Inc. — This year has been challenging on many fronts, but one financial opportunity may have emerged from the economic turbulence. If you've been thinking about converting your traditional IRA to a Roth, now might be an appropriate...

read more
Year-End 2020 Tax Tips

Year-End 2020 Tax Tips

Pinnacle Wealth Planning Services, Inc. — Here are some things to consider as you weigh potential tax moves before the end of the year. Defer income to next year Consider opportunities to defer income to 2021, particularly if you think you may be in a lower tax...

read more
IRA and Retirement Plan Limits for 2021

IRA and Retirement Plan Limits for 2021

Pinnacle Wealth Planning Services, Inc. — Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for 2021, other key numbers have increased. IRA contribution limits The maximum amount you can contribute to a...

read more
Open Enrollment for Health Insurance Marketplace Is Here

Open Enrollment for Health Insurance Marketplace Is Here

Pinnacle Wealth Planning Services, Inc. — The portal opened Nov. 1 for Individuals (including families) to apply for new health insurance, switch to a different health-care plan, or re-enroll in their current plan through a Health Insurance Marketplace under the...

read more
Form 1099-NEC makes debut with 2020 tax filing

Form 1099-NEC makes debut with 2020 tax filing

From the Pinnacle CPA Advisory Group, a KM&M CPAs affiliate — Dear Clients and Friends, We hope you are well. We are writing to provide information about a reporting requirement change for those businesses that make payments to independent contractors or others...

read more
Coronavirus Assistance Checklist Oct. 21 update

Coronavirus Assistance Checklist Oct. 21 update

From the Pinnacle CPA Advisory Group, a KM&M CPAs affiliate — This checklist was prepared for our clients and friends as a quick way to identify eligible programs. Please contact us for the details. Many of the details are not available yet from the government....

read more
Now is the time to make your year-end tax moves

Now is the time to make your year-end tax moves

Thomson Reuters/PCC and John Baer, CPA —  To Our Clients and Friends: 2020 has been quite a challenge, to say the least. The COVID-19 crisis brought massive unemployment, business closures, and an enormous amount of uncertainty. All of this has made 2020 seem like the...

read more
FAFSA Now Open for 2021-2022 Academic Year

FAFSA Now Open for 2021-2022 Academic Year

From KM&M CPAs —  The FAFSA (Free Application for Federal Student Aid) for the 2021-2022 school year went live Oct. 1, 2020. The FAFSA is a prerequisite for federal student loans, grants, and work-study. In addition, colleges typically require the FAFSA before...

read more