All too often taxpayers take action that will cost them dearly when they file their tax return. With a little planning, however, the IRS can still receive its fair share but not a dollar more. Here's what you need to know.
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Don't Run the Risk of a High Tax Bill! - Know when you should ask for professional help.
Did your paycheck seem a little higher? If so, it could be a tax time bomb.
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Is a Tax Time Bomb Lurking in Your Paycheck?
If you have not already done so, please plan to make your second quarter estimated tax payment. The due date is Tuesday, September 15th.
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Reminder: Third Quarter Estimated Taxes Due - Now is the time to make your estimated tax payment
Because our tax system is progressive, the next dollar you earn could be taxed at a much higher rate. By shifting taxable income levels from one year to the next, you could potentially pay a lower tax amount in both. Here are six great ideas.
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Tax Shifting Ideas to Reduce Your Bill to Uncle Sam - Is there a taxable income reduction idea you can use?
Learn how to win the credit score game, explore different budgeting methods to find one that works for you and be more aware of common scams being encountered by the IRS.
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Client Update Newsletter: September 2020
Providing a gift of stock (or other property) to a friend or loved one can be a powerful tax planning tool. However, it is not without its complications.
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A Gift of Stock - Information is key when using this tax planning strategy
If you recently changed your name due to marriage or divorce, do not get caught in the nightmare of a rejected or changed tax return by the IRS.
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Avoid Name Mismatch Audits
Find out if a tax trap is lurking in your paycheck and what to do with your 401(k) when switching jobs. Also read about business website mistakes and fascinating facts about your favorite fall gourd.
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Client Update Newsletter: October 2020
When does a tax benefit not become a tax benefit? When you assume you no longer need to keep track of something. This is the case with the home gain exclusion.
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The Lost Art of Tracking Home Improvements - How a tax law makes us sloppy and creates a tax risk
Oops! You find an error or omission on last year's tax return. What should you do? Is it always a good idea to file an amended tax return? Here are some things to consider.
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To Amend or Not Amend? - Is it always a good idea to amend your tax return if you find an error?
The Social Security Administration recently announced their 2021 Cost-of-Living Adjustment (COLA) changes. Here is what you need to know.
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2021 Social Security Changes Announced
The tax code is filled with age triggers. Some are beneficial, while others can create a tax increase surprise. Outlined here are some of the important age triggers everyone should know.
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Age (not death!) and Taxes - Age does matter, when it comes to tax obligations
As Congress debates tax law changes, and we watch the give and take like its a bad soap opera the clock keeps ticking towards the end of the tax year. So what can you do? Here are some time tested tax reduction ideas.
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Lower Your Taxes THIS YEAR! - Here are 6 ideas that most people can use
Looking to plan ahead? Here are initial figures from the IRS regarding the upcoming, 2021 tax year.
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IRS Releases Key 2021 Tax Information
Looking for some ideas to make filing your taxes less cumbersome? Here are some tips.
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Tips to Organize Your Tax Records - Creating order out of chaos
More income is subject to Social Security in 2021 and new benefit amounts have been announced. Plus lots of great ideas to save you, your family and your business money is in this month's letter.
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Client Update Newsletter: November 2020
If you own a home you probably itemize your deductions on your tax return. But what if you do not itemize? Can someone using the standard deduction still get a tax break?
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Tax Savings for Non-Itemizers - Can't itemize? There are still tax breaks for you
