Newsletter

This Quarter’s Topics 

 

  • 2024 Tax Season

     

  • Financial Planning

  • Housing Allowance

     

  • RMD (Required Minimum Distribution)

     

2024 TAX SEASON

Another tax season has been successfully completed.  In many ways it has
been one of our best.

A special thank you to those who sent us self-addressed postage paid priority envelopes.  Not just a financial savings for us, these return envelopes have turned out to be quite a time saving tool.  Especially those who add their own tracking.  Thank you!

FINANCIAL PLANNING

Please use us as a resource when making financial decisions.  Especially those decisions that impact your tax situation.  We encounter numerous situations during tax preparation that cost hundreds and thousands of dollars in taxes that could have been avoided with the right advice.

HOUSING ALLOWANCE

Many of you used all of your housing allowance in 2023.  This usually means that your housing allowance is designated too low.  You should designate your housing allowance with a built-in buffer and a goal to have some unused housing at the end of the year.  In this way you know that you can claim all of your expenses and will not be limited by the amount designated.

RMD (Required Minimum Distribution)

Every year we encounter a handful of taxpayers who do not take their RMD from their retirement account(s) in time.  Usually, it is because their investment company makes an error or just drops the ball.  We would encourage everyone to arrange to get their RMD completed by October of each year.  DO NOT wait until the end of the year to schedule your RMD and risk a costly mistake.

Sincerely in Christ,

James W. Rickard

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Attention: Tax Law is subject to interpretation. Please be advised that the material contained on this Web site is for information only and is not intended to be a substitute for professional legal advice. The Stewardship Services Foundation endeavors to update the information on this site on a regular basis, but cannot guarantee its accuracy at all times.