Tax Planning 2024
Personal Income Tax Planning Strategies for Year-End 2024
As 2024 draws to a close, it’s the perfect time to review your personal income tax situation and implement strategies…
2025 Federal Income Tax Brackets
According to estimates, inflation adjustments to the internal revenue code are expected to yield increases of 2.8 percent, compared to 2024 amounts. This means wider tax brackets and increased exemptions, among other things. With the…
The New Era of “No Tax” Policies: Selective Tax Exemptions and Their Side Effects
Former President and current candidate Donald Trump introduced a new policy of his in a recent Arizona rally: No more income tax on overtime pay. This follows both Trump and…
Important Update on New Company Reporting Laws CTA – BOI
On Jan. 1, 2024, the U.S. government debuted the Corporate Transparency Act (CTA). This legislation established the requirement for the majority of private companies, both big and small…
Are You Ready for Major Tax Changes in 2026?
The enactment of the Tax Cuts and Jobs Act (TCJA) in 2017 brought with it major changes to the tax code on both personal and business levels. While many taxpayers have not only enjoyed but come to see…
So, You’ve Been Audited: Should You Go It Alone or Hire a CPA, EA or Tax Professional?
I sincerely hope you have never had to go through an IRS audit – and never have to in the future. But what if that dark day does arrive? Should you go it alone and defend yourself or hire a CPA to be on your…
Marrying a Non-U.S. Citizen? No Tax Honeymoon for You
Marriage is a major life event. One that comes with all kinds of change, including financial. After getting married, there is so much to consider, from merging bank and brokerage accounts to setting up a will; from…
‘Master’ The Augusta Rule and Save Money on Your Taxes
Anyone who lives in a highly seasonal tourist destination knows you can make money on short-term rentals during events and festivities in your city or town. Think high concentration, short-term, tourist-driven events such…
Reduce Your Taxes by Putting the Right Assets in Your IRA
Most people know the basic concept that certain types of investment accounts are tax sheltered while others are not. Think 401(k), 403(b), IRA and Roth IRA accounts, for example. What most people are not aware of is how you split your…
U.S. Beneficial Ownership Information Reporting Begins
The U.S. Treasury recently enacted a new reporting requirement aimed at quashing illicit financial transactions. The agency believes that corporate anonymity is enabling money laundering, terrorism and drug trafficking…