Are you aware of the Internal Revenue Service’s Dirty Dozen list? Compiled annually, it warns of the top 12 tax scams that may be encountered anytime, but peak leading up to and during tax season.
If you or a loved one has disabilities or special needs, you know that the costs related to care can be substantial. The good news is you may be able to reduce these costs by maximizing the tax strategies available to you.
Possible credits and deduction changes to keep in mind.
If you have changed employers over the course of your career, you probably know not all 401(k) plans are created equal. They contain different fees, investment options, contribution limits, etc.
Well-organized tax records can make the tax return preparation process significantly easier for everyone involved. As you prepare to submit your tax documents, please take note of the following important details:
Why wait until tax season to prepare for your upcoming tax filing requirements? Taking some proactive steps before tax season is in full swing can help alleviate stress for both you and your CPA when it comes time to prepare your returns.
Many of us actively choose our state of residence for professional and other opportunities, or perhaps choose to stay close to friends and family and build a life where we spent our formative years.
What you can do now to avoid tax planning mistakes in the future.
Let’s face it: There is nothing fun about income taxes. They can be even more unpleasant when you have to cut a fat check to Uncle Sam in April because of a life or work event or change that occurred in the prior calendar year. Perhaps this situation was something you could have planned and prepared for in advance to soften the blow?
The Tax Cuts and Jobs Act (TCJA) of 2017, signed into law by then-President Trump in December 2017, was one of the most sweeping changes in federal tax law to date.
When “Ross”, age 62, retired from his full-time job in August, he continued to work as a freelance consultant. During all the years he was employed, Ross typically received a bi-weekly paycheck, from which taxes, insurance premiums, and 401(k) contributions were automatically deducted.
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