Tax season is upon us! Please take a glance at our helpful updates below.

Tax Preparation Packets

As a wealth management firm specializing in assisting high-net-worth individuals and businesses with their financial needs, we strive to provide exemplary client service. As a component of that service, we are in the process of preparing your Tax Packet which will be uploaded to your eMoney document vault by February 23rd. If you need assistance with your eMoney login, please reach out to your AOG Relationship Manager or Amanda Pfeifle at 703-757-8020,  apfeifle@aogwealth.com. Your Tax Packet may include:

1. Checklist of tax reporting documents you should expect to receive for only the investments we manage (if applicable)
2. TD Ameritrade 1099 (if applicable)
3. Schwab 1099 (if applicable)
4. TD Ameritrade Cost Basis (if applicable)
5. Schwab Cost Basis (if applicable)
   
   

2024 Contributions

The 2024 maximum contribution to a Traditional or ROTH IRA is $7,000 for those under age 50, and $8,000 for anyone 50 or older. The 401(k) contribution limit is $23,000, with an additional $7,500 contribution allowed for anyone 50 or older.

Partnership Programs

The deadline to issue partnership K-1's to investors is March 15, 2024. We anticipate that investment companies will send packages via hard copy or electronically to clients on or before that date. The tax filing package you receive from those investment companies will include all IRS Schedule K-1s (if applicable).

*Those invested in a Land Development/Conservation Easement will receive Form 8283 and Form 8886 with their K-1.

Please call our office at (703) 757-8020, and one of our client service team members will be more than happy to assist you with any questions.

If you haven’t received a cash distribution for a particular investment you may not receive a tax document. Please be aware that in most cases, investments inside of an IRA do not create taxable events. However, please submit all tax forms to your tax preparer for their review and evaluation. AOG Wealth Management does not provide tax or legal advice. The opinions and views expressed here are for informational purposes only. Please consult with your tax and/or legal advisor for such guidance.