Reminder to IRA owners age 70½ or over: Qualified charitable distributions are great options for making tax-free gifts to charity
The IRS this month sent out a notice reminding IRA owners age 70½ or over of their option to transfer up to $100,000 to charity tax-free each year. These transfers, known as qualified charitable distributions or QCDs, offer eligible older Americans a great way to easily give to charity before the end of the year. […]
What is Tax Planning?
No one wants to pay more taxes than they’re legally required to. Suffice to say, if you want to be proactive about being tax-efficient, you’ll want to speak with an expert about tax planning. Simply stated, tax planning involves numerous strategies, such as making requirement account contributions, planning the timing of certain purchases, and making […]
Benefits of year-end tax planning
If you haven’t started thinking about your 2021 taxes, now is the time to do it. Yes, the tax filing deadline may still be months away, but if you don’t start planning now, you could wind up leaving money on the table. Let us explain. You’ll want to maximize contributions to your retirement accounts December […]
Key benefits of tax planning
Tax season is still months away, but that’s not to say there aren’t numerous benefits associated with meeting with a CPA to start tax planning. Taxes can eat up an enormous chuck of your annual income, and if you’re not taking advantage of legitimate, legal ways to reduce your tax liability, your end-of-year tax bill […]
When should I start planning for my 2021 taxes?
The 2021 tax filing season might still be months away, but that’s not to say you shouldn’t start prepping now. From saving receipts, maximizing your retirement account contributions, and if you’re self-employed or working as an independent contractor—remembering to pay your quarterly taxes- there are lots of things you should be doing much sooner than […]
How to Plan for Next Year’s Taxes
Tax filing season may still be months away, but that’s not to say you shouldn’t start prepping now. Below are just a few of the steps you can take to ensure you’re ready. Make sure your withholdings are correct The IRS recommends taxpayers use their online Tax Withholding Estimator to help determine whether the correct […]
Benefits of Hiring a CPA (and How to Choose the Best One)
Lots of people assume that CPAs are only helpful for corporations and the ultra-wealthy, but this simply isn’t true. In fact, you may be surprised to learn that CPAs can provide a lot of assistance to individuals and small business owners in various areas, such as tax planning, retirement planning and estate planning. Below are […]