IRS Defers Tax Payment Due Dates

Accountant is calculating annual tax

We hope you and your loved ones continue to be safe and healthy during this medical crisis. Recently (3/20/2020) the U.S. Treasury Department and Internal Revenue Service (IRS) issued updated guidance extending the due date to file a federal income tax return from April 15, 2020 to July 15, 2020 for any individual, trust, estate,… Read More »


An update regarding Coronavirus (COVID-19)

An update regarding Coronavirus (COVID-19) Dear Clients and Friends, As a valued member of the Russo Law Group family, I appreciate the trust you place in our law firm. We are closely monitoring the outbreak developments and CDC recommendations regarding the Coronavirus (COVID-19). That’s why I want to personally update you on the steps we are… Read More »

The SECURE Act – Non-retirement changes

SECURE act non-retirement changes

The Setting Every Community Up for Retirement Enhancement Act (more commonly referred to as the SECURE Act) has received a lot of buzz in the estate and retirement planning communities lately thanks to the significant changes it has made to laws related to retirement. How will the SECURE Act impact my life? Although the buzz… Read More »

Need to Know Tax Facts for 2020

tax facts 2020

Every April 15 millions of taxpayers throughout the United States file their income tax returns. Prior to filing their returns many taxpayers will go through their records to organize their income, deductions, and credits, and meet with their tax advisors/preparers to review and finalize their income tax returns. You can take this opportunity to speak… Read More »


Charitable Gift Giving – When should I give to a charity?

charitable gift giving

You can give to a charity whenever you are able and willing to make a donation. However, for tax purposes, if you want the contribution to be tax-deductible in a given year you must make the donation by the end of the tax year. A contribution is deductible in the year in which it is… Read More »


Charitable Gift Giving – How much can I deduct?

charitable gift giving

In general, your total charitable deductions are limited to no more than 60% of your adjusted gross income (AGI). However, only donations to certain organizations as defined by the IRS qualify for the highest limit. These organizations include, but are not limited to, churches, educational institutions, and hospitals. Only certain qualified conservation contributions are eligible… Read More »


Monthly Staff Update

The State of the Union address: An annual message delivered to Congress by the president of the United States, in which he describes the condition of the country, outlines the nation’s most serious problems and proposes his annual program of legislation. Each January, Russo Law Group adopts this practice to help us look back on the past… Read More »

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