Wood Financial Services LLC

Category Archives: Taxes

Value of additional income

On March 8, 2020, Posted by , In Diagrams,Family,Taxes, By ,, , With Comments Off on Value of additional income

With it being tax season, my kiddos were watching me spread out all of our family tax paperwork across the kitchen table, and of course wanted to know more. I didn’t think they were going to get much value from a line-by-line review of our tax return however 😛 Instead,…

“Something” changed in Minnesota tax law

On March 8, 2020, Posted by , In Taxes, By , With Comments Off on “Something” changed in Minnesota tax law

It’s tax season! And that means I’m getting some interesting tax questions to share with you all 🙂 Here’s one I got that wasn’t really framed as a question, but it definitely deserved to be addressed. Someone said “Something changed in my Minnesota taxes, we got a whole bunch more…

Merry Christmas is SECURE’d

On December 25, 2019, Posted by , In Savings,Taxes, By , , With Comments Off on Merry Christmas is SECURE’d

December 27th, 2017 was the date the Tax Cuts and Jobs Act (TCJA) was signed in to law. Typically major tax reform is only an every ~30 years affair (with the prior set being in the 1980’s), with some non-trivial bumps every ~10 years. This week, only 2 years later,…

Dependent care flexible spending accounts

On November 12, 2019, Posted by , In Benefits,Open enrollment,Taxes, By ,, , With Comments Off on Dependent care flexible spending accounts

This post had “Coming soon” as its text for way longer than I’d intended. Why? Because with kids in the picture, things never go as planned. Fortunately for the part of this that was due to a kiddo being home sick for 4 days in a row, from a child…

Tax basics

On October 23, 2019, Posted by , In Diagrams,Taxes, By , , With Comments Off on Tax basics

Taxes are a fact of life, affecting all of us every day in some way or another. They are the way our layers of government obtain money for their undertakings, whether those are undertakings you agree with or not. That includes everything from national defense to the retiree down the…