All taxpayers should review their federal withholding each year to make sure they’re not having too little or too much tax withheld. Effective tax planning can help you to minimize your future tax liability. Employees, retirees and self-employed individuals can use the IRS Tax Withholding Estimator to help decide if a change should be made to […]
OR run the risk of a high tax bill “Before taking action talk to your tax adviser.” How many times have you seen this legal disclaimer and have your eyes gloss over? Unfortunately, there are too many times when taxpayers do not follow this advice and then must pay the price with an unnecessarily high […]
Understanding the taxable gain exclusion on home sales If you are considering selling your home or have recently sold your home, there are possible tax consequences. The good news? Much of the gain on the sale of your home may be tax exempt. The bad news? If you sold your home at a loss, in […]
As an owner of a small business, you’ve proven that you’re a self-starter by operating a successful private enterprise. Of equal importance is applying your skills towards saving for your future. Here are some of the most popular tax-advantaged retirement vehicles for small business owners in 2020 and some tips on saving for retirement. Options […]
Taxpayers can take the following actions this fall to get ready for the upcoming tax filing season. Steps taxpayers can take now to make tax filing easier in 2021 Taxpayers should gather Forms W-2, Wage and Tax Statement, Forms 1099-Misc, Miscellaneous Income, and other income documents to help determine if they’re eligible for deductions or […]
