28 11, 2022

Year-end tax planning ideas for individuals

By |2022-11-30T10:19:48-08:00November 28, 2022|Individual|Comments Off on Year-end tax planning ideas for individuals

Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next. One of the first planning steps is to ascertain whether you’ll take the standard deduction or [...]

21 11, 2022

Worried about an IRS audit? Prepare in advance

By |2022-11-30T10:19:32-08:00November 21, 2022|Business|Comments Off on Worried about an IRS audit? Prepare in advance

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report , but that’s little consolation if your return is among those selected to be examined. Plus, the IRS recently received additional funding in the Inflation Reduction [...]

14 11, 2022

Home sweet home: Do you qualify for office deductions?

By |2022-11-30T10:19:14-08:00November 14, 2022|Individual|Comments Off on Home sweet home: Do you qualify for office deductions?

If you’re a business owner working from home or an entrepreneur with a home-based side gig, you may qualify for valuable home office deductions. But not everyone who works from home gets the tax break. Employees who work remotely can’t deduct [...]

7 11, 2022

Separating your business from its real estate

By |2022-11-30T10:18:56-08:00November 7, 2022|Business|Comments Off on Separating your business from its real estate

Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You may want to rethink this approach. Any short-term benefits may be outweighed by the tax, [...]

31 10, 2022

Estimated tax payments: Who owes them and when is the next one due?

By |2022-11-02T09:00:57-08:00October 31, 2022|Individual|Comments Off on Estimated tax payments: Who owes them and when is the next one due?

If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is the case if you receive interest, dividends, self-employment income, capital gains or other income. Here are the [...]

24 10, 2022

Year-end tax planning ideas for your small business

By |2022-10-24T08:21:24-08:00October 24, 2022|Business|Comments Off on Year-end tax planning ideas for your small business

Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. The standard year-end approach of deferring income and accelerating deductions to minimize taxes [...]

3 10, 2022

The kiddie tax: Does it affect your family?

By |2022-10-19T08:44:42-08:00October 3, 2022|Individual|Comments Off on The kiddie tax: Does it affect your family?

Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting. It seeks to take income out of your higher tax bracket and place it in the lower tax brackets [...]

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