New Year, New Required Minimum Distribution

New Year, New Required Minimum Distribution As soon as the clock strikes midnight on New Year’s Eve and a new calendar year officially begins, our inboxes are flooded with emails from clients requesting the calculation and processing of their required minimum distribution (RMD).  Ok, perhaps that is a bit of an...

Tax Reform Has Changed Everything

Tax Reform Has Changed Everything Laura Nickolay spent two days at the Minnesota Society of CPAs conference (TAX18) on November 12 and 13th, 2018. Laura stays up to date with all things tax related, especially tax planning, for our clients and this year is especially interesting because, as Laura...

The New Mortgage Math

The New Mortgage Math One of the most frequent questions we receive at White Oaks is whether or not to pay off the mortgage on their home. In the past we had a pretty standard answer. If your investments earn more than the interest rate on your mortgage, the financial answer was to keep...

WCCO Laura Nickolay; MN Taxes

WCCO Laura Nickolay; MN Taxes Watch White Oaks Sr. Tax Associate & Financial Advisor, Laura Nickolay, on WCCO as she relays key benefits of a bill affecting Minnesota income taxes. 5 Things To Know About The Minnesota Tax Bill Before Filing Your Returns Robert KlostermanRobert Klosterman,...

New Year, New Tax Legislation?

New Year, New Tax Legislation? In the last few weeks, you’ve likely witnessed an overview of the proposed tax legislation. Information from every media outlet, think-tank, lobbying group, friend, family and neighbor that you’ve met floods your ears. It’s increasingly challenging to find unbiased...

Minnesota Tax Benefit for 529 College Savings Plans

Minnesota Tax Benefit for 529 College Savings Plans Minnesota has enacted some new tax legislation beginning in tax year 2017 that is related to 529 college savings plan contributions. The state is now offering a Minnesota tax credit (with income phase outs) or taxable income subtraction (no income phase outs) for net...