by Admin | Sep 12, 2023 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning
The Importance of Business Succession Planning Every business – large and small – needs a business succession plan. Just like Warren Buffett and Jeff Bezos prepared for the day that they would step away from the C-suite, every small and mid-sized business owner...
by Admin | Sep 12, 2023 | Entrepreneurial, Individual Taxes, Tax Planning
Deductions When a Rental Property Is Converted to a Personal Residence Converting a rental property to a personal residence raises unique tax implications. If you own a home that you currently rent out and are thinking of converting the property to use as your...
by Admin | Aug 8, 2023 | Individual Taxes, Tax Planning
If you are the recent beneficiary of an inheritance, you may be wondering if you will need to pay tax on the cash, stocks or real property that you received. Generally, the answer is no, and you don’t even need to report the receipt of the inheritance on your income...
by Admin | Aug 2, 2023 | Individual Taxes, Tax Planning
The summer months are a popular time to buy or sell a house. New homeowners should put reviewing the tax deductions, programs and housing allowances they may be eligible for on their move in to-do list. Deductible house-related expensesMost home buyers take out a...
by Admin | Aug 2, 2023 | Individual Taxes, Tax Planning
Waiting until after the close of the tax year to worry about your taxes can result in missed opportunities that could have reduced your tax liability or provided financial benefits. Mid-year is the perfect time for tax planning. The following are some events that can...
by Admin | Jul 19, 2023 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning
Thanks to Inflation Reduction Act resources, the IRS delivered dramatically improved service in filing season 2023. IRS achieved an 87% level of service. Through the end of filing season, IRS answered 3 million more calls, cut phone wait times to three minutes from 28...
