Tax Planning Archives - Central Trust Company

The Importance of Celebrating Birthdays

February 1, 2023
Retirement, Tax Planning, Uncategorized

Maybe you don’t get the big cake and piles of presents like when you were a kid, but birthdays are still worth celebrating. When it comes to financial planning, each milestone birthday brings new benefits and opportunities.

Tax Update: Considering a Roth conversion? Now might be your chance.

May 20, 2022
Tax Planning

Given the recent volatility in the stock market, now might be a good time to consider a taxable Roth conversion.

Second Homes & Tax Implications

April 29, 2022
Retirement, Tax Planning

Many people dream of having a place family can gather for vacation or a second home to spend winters once retired. Before making that purchase, there may be tax implications to consider.

Tax and Estate Strategies: What is a GRAT and Do You Need One?

March 23, 2022
Estate Planning, Tax Planning, Videos

While Grantor Retained Annuity Trusts (GRAT) can seem complex to some, they can really be simple when broken down. Because GRATs have the potential to provide significant tax benefits when interest rates are low, today’s interest rate environment may provide a good opportunity.

Tax Tip of the Day: Spending Virtual Currency

August 11, 2021
Tax Planning

Every time virtual currency is “spent” on goods & services, a taxable transaction has occurred that needs to be reported on your tax return!

Planning for RMDs in 2021

April 1, 2021
COVID-19, Tax Planning

Amid a great deal of uncertainty in 2020 due to the ongoing coronavirus pandemic, we find ourselves once again navigating uncertain waters as it relates to tax planning for tax year 2021.

2021 Tax Season Checklist

February 2, 2021
Tax Planning

To prepare for tax filing season, there are several things you should take into consideration.

Uncertainty vs. Certainty of Death and Taxes

January 4, 2021
Charitable Giving, Financial Planning Library, Tax Planning, Videos

When uncertainty is all around, proactive steps you take help mitigate your personal financial risk and the uncertainties of life and the certainty of death and taxes.

2020: The World Reshaped

December 30, 2020
Estate Planning, Investments, Tax Planning

From millions of jobs lost, political division, civil unrest, and market swings, to remote work and school. These events have reshaped our world.

2020 Year-End Tax Planning Considerations & A Look Towards the Future

December 22, 2020
Tax Planning

By Kristin Carter, CPA – Vice President, Tax Officer As this challenging and unprecedented year comes to a close, there is still a small window of time to take stock of your tax situation and make some tax-advantageous moves for…