Tax Help for Retirees and Families
Life changes bring new tax questions: retiring, drawing on Social Security and retirement accounts, receiving trust or estate income, supporting children or parents, or selling a home.
Raymond G. Kenney, CPA works directly with individuals, retirees and families. Ray prepares your return, explains what each form means and helps you plan ahead in plain language.
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Common Challenges and How Ray Helps
- Retirement income. Social Security, pensions, IRA and 401(k) distributions are taxed in different ways. Ray helps report each correctly and plan withholding or estimated payments.
- Required minimum distributions. Once you reach the required age, RMDs must be taken from many retirement accounts. Ray helps you understand how they fit into your tax picture.
- Trust and estate K-1s. If you are a beneficiary, a trust or estate may issue a Schedule K-1 (Form 1041). Ray reports the income passed through to you and helps you understand what was already taxed at the trust level.
- Families and dependents. Ray helps with dependents, education costs, childcare and the credits that may apply to your household.
- Home sales and inheritances. Selling a home or inherited property raises questions about basis and gains. Ray helps you gather the records you need.
- Estimated taxes and withholding. Without a paycheck, it is easy to underpay during the year. Ray helps set amounts that fit your income.
Related Services
- Individual tax preparation
- Year-round tax planning
- Partnership and multi-member LLC returns
- Frequently asked questions
Why Work With Ray
Ray is a licensed New York CPA in practice since 2015 and a member of the NYSSCPA. You deal with him directly, from your first call through filing, and he’ll explain things in plain language.
Work With Ray From Anywhere
Prefer to work remotely? Ray works with clients locally and remotely across the U.S. by phone, video and email. Work with Ray from anywhere.
Frequently Asked Questions
I received a K-1 from a trust. What do I do with it?
A K-1 from a trust or estate shows your share of income, deductions and credits that pass through to you. You report those items on your own return. Ray can review it and report it correctly.
Is my Social Security taxable?
Part of your benefits may be taxable depending on your other income. Ray can review your situation.
Do I need to make estimated payments in retirement?
Possibly. If withholding from pensions, Social Security or distributions does not cover your tax, estimated payments may be needed to avoid penalties.
Get Started
Have questions about your situation? Talk with Ray. Monday–Friday, 9–5.