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Cunningham & Associates Updates

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A snapshot of the tax laws that affect your return

As we approach the end the current tax year, we think you will benefit from reviewing a description (in layman’s terms) of the various individual income tax law provisions that will likely have an impact on your 2019 and 2020 income tax returns and income tax obligations. In this regard, please click on the link that follows to gain access to a recent AICPA publication entitled “A snapshot of the tax laws that affect your return,” which will provide you with tax reduction strategies and discussions that will likely be of benefit to you. As always, please contact us if...
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Retirement Plan Contribution Limits - 2020 and 2019

IRA contribution limits The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2020 is $6,000 (or 100% of your earned income, if less), unchanged from 2019. The maximum catch-up contribution for those age 50 or older remains at $1,000. You can contribute to both a traditional IRA and a Roth IRA in 2020, but your total contributions can't exceed these annual limits. Traditional IRA income limits If you are not covered by an employer retirement plan, your contributions to a traditional IRA are generally fully tax deductible. For those who are covered by an...
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Contact Details

 
Contact our personnel via e-mail:

Jack Cunningham

Patrick Cunningham

Jack Jr. Cunningham 

Matt Cunningham 

Mary Lehman

Janet Cunningham

Stephanie Kaline 

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