Six Ways to Take Advantage of Incoming Tax Law Right Now

New tax rates and other provisions will go into effect on January 1. Below are several things you can do this year to take advantage of the changing tax code. Be sure to schedule an appointment with us before the end of the year to discuss if any of these strategies could benefit you. Give [...]

By | 2017-12-22T15:02:32+00:00 December 22nd, 2017|Taxes|0 Comments

Tax Reform Legislation Simplified

You may have seen some information in the news about the draft tax reform legislation that was released recently – both by the House and by the Senates. These proposed bills have many differences. Here is a simplified breakdown of the main differences between the two.   House Version  Senate Version Individual Tax Rates Four [...]

By | 2017-11-15T15:49:42+00:00 November 15th, 2017|Taxes|0 Comments

Five Smart Year-End Tax Strategies for Business Owners

It is almost the end of the year. Many small business owners are starting to think about their budgets and goals for next year, but have you thought about the things you can still do this year to reduce your tax bill? You can get significant tax savings with proper planning. Below is a list [...]

By | 2017-10-30T16:41:02+00:00 October 30th, 2017|Taxes|0 Comments

Five Reasons You Need A CPA to Prepare Your Taxes

There are so many options available for tax preparation - do it yourself software programs, tax preparation firms, accountants, CPAs – that it can be hard to decide which option is best for your particular needs. Let us help! Below are some great reasons to use a CPA (Certified Public Accountant) for your tax preparation [...]

By | 2017-10-18T16:53:28+00:00 October 16th, 2017|Taxes|0 Comments

Tax Deductions Vs. Tax Credits

Future Tax Rates Deciding between a Traditional or Roth IRA depends, basically, on how you think your income – and by extension, your income tax bracket – will compare to your current situation. In effect, you’re trying to determine whether the tax rate you pay on your Roth IRA contributions today will be greater or [...]

By | 2017-08-22T15:47:34+00:00 September 4th, 2017|Taxes|0 Comments

Investment Taxes Explained

The federal government taxes investable income such as dividends, interest, and rent on real estate, just to name a few. Tax on Dividends If you have money invested in a security (e.g. stocks, bonds, real estate) then there’s a good chance that you are receiving a dividend on each mutual fund or bond fund that [...]

By | 2017-08-22T15:33:38+00:00 August 22nd, 2017|Governments, Taxes|0 Comments

Roth IRA vs. Traditional IRA: Taxes

You’ve probably heard of these different account types, but perhaps you never nailed down the key differences. So first, let’s touch on the basics of these two IRA’s (Individual Retirement Accounts) and then we’ll get into the finer details and tax incentives.   Income Limits If you are under 70½ years of age, you can [...]

By | 2017-07-14T16:32:16+00:00 July 12th, 2017|Financial, Taxes|0 Comments

Top 15 Small Business Tax Advantages

In the winter of 2016, the Internal Revenue Service released data on Schedule C filers. This information showed us the most popular and common tax deductions of that year. It is important to note that although other business entities (C corporations, S corporations, Limited Liability Companies, and partnerships) can deduct these as well, there may [...]

By | 2017-06-22T16:46:18+00:00 June 22nd, 2017|Taxes|0 Comments

IRS Debunks Myths Surrounding Tax Refunds

As millions of people begin filing their tax returns, the Internal Revenue Service reminds taxpayers about some basic tips to keep in mind about refunds. During the early parts of the tax season, taxpayers are anxious to get details about their refunds. In some social media, this can lead to misunderstandings and speculation about refunds. [...]

By | 2017-03-31T14:38:51+00:00 March 21st, 2017|Governments, Taxes|0 Comments