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 everThere are a number of tax code changes that will …
A Tax Nightmare on Your Horizon
MUST READ if using digital payment tools or reselling tickets A recent tax law change by this edition of Congress now requires transaction reporting to the IRS for anyone receiving more than $600 in payments through digital payment tools like PayPal, Venmo, and Cash App. It also impacts anyone using transaction platforms to buy or sell …
Client Update Newsletter: May 2022
Virtual transactions are triggering more tax filings than ever. Plus understanding taxation of summer jobs and avoiding hidden fees that can destroy your vacation! Here is what you need to know With tax season now in the rear view mirror for most of us, it’s time to start thinking about how to minimize your taxes …
Maximizing the Tax Benefit of Charitable Deductions
It may be best to bundle several years of charitable deductions into one year to get the most tax savings. Your charitable contribution deductions are still a great tax savings tool, but they now require more planning. Now is a great time to look at this area as part of your tax planning exercise.BackgroundTypically, cash …
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If You’re Expecting a Refund, Read This!
The average refund is nearly $3,000 and takes about three weeks to arrive if you e-filed. Track its progress to your bank account by visiting http://www.irs.gov/refunds. If you’re getting a refund, here are four useful tips to know.1. The average refund is more than $3,500. Through February 18, the IRS reports the average refund is $3,536, …
Tax & Business Newsletter: April 2022
This year is your final chance to take advantage of 100% bonus depreciation if you purchase equipment or property for your business! In this month’s newsletter, review the tax benefits of using bonus depreciation and determine if it fits your situation.Also read about small changes you can make that can lead to big gains in …
Tax Day is Here! – Last-minute details, tips and freebies
Tax day is here! If you owe taxes, remember to make the payment by the end of the day Monday, April 18. With the individual tax-filing deadline on Monday, April 18, now is the time to complete all filing arrangements and payments. If you have not already done so, ask yourself these questions before it’s …
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Tax Planning Insights: April 2022
Reviewing who receives your assets when you die requires annual review. Here's Why. The Importance of a Beneficiary Review - Now!It's easy to lose track of beneficiaries you've assigned to your key accounts and other important documents. Should something happen to you, this situation can create a mess. The press is filled with examples of …
It’s Tax Time! Estimated Taxes are Due. – Now is the time to file your taxes and make your estimated tax payment.
Time to make an estimated quarterly tax payment! Both your individual tax return AND first quarter estimated tax payment are due by Monday, April 18th. Here is what you need to know.First quarter due date: Monday, April 18, 2022The estimated tax payment ruleYou are required to withhold or prepay throughout the 2022 tax year at …
Client Update Newsletter: April 2022
April is tax month! Included this month is a fun state tax quiz. In addition, there are answers to common tax questions received this month plus lots of great money management tips. Welcome to tax month! Perhaps welcome is not quite the right word, but to help lighten the mood, included in this month's newsletter …
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