Recent News & Blog / Individual Tax
Using your 401(k) plan to save this year and next
You can reduce taxes and save for retirement by contributing to a tax-advantaged retirement plan. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a tax-wise way to build a nest egg.
Depreciation and Cost Recovery Rules: 2019 and Later
The Tax Cuts and Jobs Act of 2017 (TCJA) brought with it some changes and updates to Depreciation rules. SEK’s tax department has created this one page quick reference guide to help answer some of the most common Depreciation questions we receive.
You may be ABLE to save for a disabled family member with a tax-advantaged account
There’s a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose eligibility for government benefits to which they’re entitled.
Now Available: SEK's 2019 Tax Planning Guide
Are you doing everything you can to minimize your income taxes? If not, it may be time for a fresh look. The tax law and your own situation may change from year to year.
Selling securities by year end? Avoid the wash sale rule
If you’re planning to sell assets at a loss to offset gains that have been realized during the year, it’s important to be aware of the “wash sale” rule. How the rule works
Watch out for tax-related scams
“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. Criminals can contact victims through regular mail, telephone calls and email messages. Here are just two of the scams the tax agency has seen in recent months.
Take advantage of the gift tax exclusion rules
As we head toward the gift-giving season, you may be considering giving gifts of cash or securities to your loved ones. Taxpayers can transfer substantial amounts free of gift taxes to their children and others each year through the use of the annual federal gift tax exclusion.
When is tax due on Series EE savings bonds?
You may have Series EE savings bonds that were bought many years ago. Perhaps you store them in a file cabinet or safe deposit box and rarely think about them. You may wonder how the interest you earn on EE bonds is taxed.
Uncle Sam may provide relief from college costs on your tax return
We all know the cost of college is expensive. The latest figures from the College Board show that the average annual cost of tuition and fees was $10,230 for in-state students at public four-year universities — and $35,830 for students at private not-for-profit four-year institutions.
Getting a divorce? There are tax issues you need to understand
In addition to the difficult personal issues that divorce entails, several tax concerns need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made.