The Gen Z Freelance Movement and the Tax and Bookkeeping Challenges That Come With It
Bookkeeping and especially taxes present significant challenges that people need to understand before choosing to go down this path moving forward.
Is This an Opportune Time to Convert Your Traditional IRA to a Roth IRA?
Roth IRA distributions provide tax-free retirement benefits while payouts from Traditional IRAs are taxable.
Mid-Year Tax Planning Checklist
Mid-year is the perfect time for tax planning. The following are some events that can affect your tax return.
Electric Vehicle Credits Phasing Out
If you are considering purchasing an electric vehicle and expect to receive a federal tax credit along with the purchase, you better do your homework first.
Fall Tax Planning May Be Wise
Taxes are like vehicles in that they sometimes need a periodic check-up to make sure they are performing as expected, and if ignored, can cost you money. That is true of taxes as well, especially for 2021, as the pandemic benefits begin to wane and President Biden’s tax proposals loom.
Is a Living Trust Appropriate for You?
You have probably heard others discussing living trusts but may not understand the reasons for them or whether you should have one. Living trusts are an estate-planning tool, and there is not a one-type-fits-all living trust. … Read More
Don’t Miss Out on Year-End Tax Planning Opportunities
Individual Planning Opportunities Did You Collect Unemployment Income This Year? If you did, you should be aware that it is taxable for federal purposes and that most states also tax unemployment benefits. Even if you had … Read More
IRS Extends Over 300 Tax Filing, Payment and Admin Deadlines
IRS Extends Over Tax Filing Deadlines According to Treasury Secretary Steven Mnuchin, “Treasury and the IRS are extending tax deadlines.” These deadlines include the “fiscal year businesses, tax-exempt organizations and more than 270 other tax-related deadlines.” … Read More
Will Working from Home During COVID-19 Outbreak Save You Money?
People Are asking, “Will Working From Home During Covid-19 Save Me Money On My Taxes?” Most people know that the best way to reduce your tax liability is through deductions and tax credits. Even if you … Read More
Where is the Federal Estate Tax Going?
Estate and Gift Tax Lifetime Exclusion Amount The Tax Cuts and Jobs Act (TCJA, often referred to as tax reform) generally went into effect in 2018. Tax Reform increased the federal estate and gift tax lifetime … Read More