Withholding Review Required Now. Avoid tax surprises with a simple review. With tax season in the rear view mirror, now is the time to take a hard look at your federal and/or state withholdings to ensure next year’s tax bill does not surprise you. A review is more important than ever There are a number […]
IRS Tax Tip 2022-66, April 28, 2022 All taxpayers should review their federal withholding each year to make sure they’re not having too little or too much tax withheld. Doing this now can help protect against facing an unexpected tax bill or penalty in 2023. The sooner taxpayers check their withholding, the easier it is […]
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 […]
