Kristina M. Grasso, Esq.

Kristina M. Grasso, Esq. Master Tax Advisor

Something to think about as part of your tax planning strategy.
08/08/2020

Something to think about as part of your tax planning strategy.

You may be able to stretch your budget by living in a state that does not tax some, or all, types of income drawn from retirement fund distributions.

In case anyone made charitable donations using virtual currency, such as Bitcoin:
01/19/2020

In case anyone made charitable donations using virtual currency, such as Bitcoin:

Looking to reduce your taxable income with a donation of virtual currency to charity?

You may be looking to get a head start on filing your taxes. If so, kudos to you! But you’ll need to make sure you have ...
01/10/2020

You may be looking to get a head start on filing your taxes. If so, kudos to you! But you’ll need to make sure you have these four documents first:

Even if you want to get a jump on preparing your tax return, it's almost impossible without backup from documents like your W-2, 1099 and 1098.

If you’re saving for college expenses with a 529 plan, some of those funds can now be used for qualified education loans...
01/10/2020

If you’re saving for college expenses with a 529 plan, some of those funds can now be used for qualified education loans. Think twice, though. It may not be the best move for everyone. Here’s why:

Families with student loans can start using their 529 college savings plans to repay the balance owed. Just make sure your state is also on board with this, otherwise, you could face surprise taxes and penalties.

The IRS has made some adjustments that will benefit taxpayers in tax year 2020. Take note of these updates and how they ...
01/10/2020

The IRS has made some adjustments that will benefit taxpayers in tax year 2020. Take note of these updates and how they may trim your tax bill next year.

This year, resolve to save more in retirement, squirrel away extra dollars for medical needs and, while you're at it, shave your tax bill. Here's what you can expect in 2020.

As the latest season of The Bachelor kicks off, the newest bachelor will be faced with some interesting tax questions. A...
01/08/2020

As the latest season of The Bachelor kicks off, the newest bachelor will be faced with some interesting tax questions. A colleague from H&R Block's Tax Institute proposes a few tax questions that likely caught the eye of former bachelors.

As a new season of "The Bachelor" starts, it’s a great time to reflect on the Bachelors, their occupations and what types of tax questions might have a-rose for them.

Ready to get organized for the New Year? A great place to start is with old documents, including tax records. How long s...
01/03/2020

Ready to get organized for the New Year? A great place to start is with old documents, including tax records. How long should you keep tax returns and other documents? We provide some guidance here:

Find out how long you should keep your tax returns from previous years. H&R Block explains why it is important to hold onto those important tax documents.

The SECURE Act modifies the rules for retirement plan participants and employer-sponsors starting in tax year 2020. Lear...
01/03/2020

The SECURE Act modifies the rules for retirement plan participants and employer-sponsors starting in tax year 2020. Learn how these changes impact specific taxpayers.

The SECURE Act modifies the rules for retirement plan participants and employer-sponsors starting in tax year 2020. Learn how these changes impact students, savers over 70½, new parents, some foster parents, and long-term, part-time workers.

If you received a year-end bonus, you’ll want to be aware of how much tax you’ll pay on it. Learn more about how bonuses...
01/03/2020

If you received a year-end bonus, you’ll want to be aware of how much tax you’ll pay on it. Learn more about how bonuses are taxed here:

The IRS says bonuses are "supplemental wages," subject to their own withholding calculations. But if you overpay taxes, you might get a refund later.

If you were a victim of a qualifying natural disaster in 2018 or 2019, a new law might provide you with some tax benefit...
01/03/2020

If you were a victim of a qualifying natural disaster in 2018 or 2019, a new law might provide you with some tax benefits. Here are the details:

New law provides relief with certain tax benefits for taxpayers affected by 2018 and 2019 disasters.

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Chelmsford, MA
01824

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