Taxes and the amount you pay is not all up to chance. Here are a dozen reasons to sit down with a professional to review your situation. With all the tax law changes over the past few years, here are some things that should trigger you to conduct a full tax planning session to ensure …
Month: October 2021
Employee Tax-Free Income
NO you do not have to pay income tax on everything! Here are some employee tax-free benefits. While most income received from your employer quickly ends up on a W-2 tax form at the end of the year, here are some common employee benefits that often avoid the impact of Federal taxes. Health Benefits. While now …
Tax & Business Newsletter: October 2021
Here are three factors to consider when determining how much to pay yourself as a business owner. Also read about how an accountable plan is a win-win tax move for you and your employees news.resourcesforclients.com • 2 min read As a small business owner, you grapple with many urgent and important questions on a daily …
Inflation Spikes Social Security Checks for 2022
The Social Security Administration announced a whopping 5.9 percent boost to monthly Social Security and Supplemental Security Income (SSI) benefits for 2022. The increase is based on the rise in the Consumer Price Index over the past 12 months ending in September 2021. For those contributing to Social Security through wages, the potential maximum income …
Continue reading Inflation Spikes Social Security Checks for 2022
Tax Planning Insights: October 2021
If you're interested in minimizing your tax obligations and maximizing your savings, consider the helpful tips and ideas you'll find in this newsletter. The Mutual Fund Tax Surprise!Some tax planning tips for mutual fund investors From a tax planning viewpoint heading into the 2021 tax season, here are some great mutual fund tips to avoid …
Five Tax-Loss Harvesting Tips
Actively managing your investments throughout the year can lower your taxes, especially if you can offset losses with gains. Though the markets have been up strongly this year, your investment portfolio could have a few lemons in it. Using the tax strategy of tax-loss harvesting, you may be able to turn those lemons into lemonade. …
File That Tax Return! – October extension deadline fast approaching
Time to file your tax return for 2020 if you have not already done so. There is no reason to leave a possible refund on the table, and the IRS is not going to beg to send you back your money. Friday, October 15 marks the extension deadline for filing your 2020 Form 1040 Tax …
Continue reading File That Tax Return! – October extension deadline fast approaching
Velisa Bookkeeping Services LLC 