by Admin | Jan 31, 2023 | Individual Taxes, Tax Planning
A common question parents have is, “How might I save for a child’s post-secondary education in a tax-beneficial way?” The answer depends on how much the education is expected to cost and how much time is left until the child heads off to college or a university or...
by Admin | Jan 27, 2023 | Individual Taxes, Tax Planning
The Internal Revenue Service reminds taxpayers who earn wages to use the Tax Withholding Estimator on IRS.gov now to adjust their 2023 withholding. People’s tax situations occasionally change through marriage or divorce, adding a child or having one move out on their...
by Admin | Jan 26, 2023 | Individual Taxes, Tax Planning
When it comes to transactions between family members, the tax laws are frequently overlooked, if not outright trampled upon. The following are some commonly encountered situations and the tax ramifications associated with each. Renting to a Relative – When a taxpayer...
by Admin | Jan 25, 2023 | Individual Taxes
The Internal Revenue Service’s Free File Guided Tax Preparation service is live and ready for taxpayers to use. Free File went live Jan. 13, 2023, 10 days prior to the 2023 filing season start date. The IRS started accepting individual tax returns on Jan. 23. IRS Free...
by Admin | Jan 24, 2023 | Individual Taxes, Retirement, Tax Planning
When you are attempting to defer the taxability of a capital gain, save money for your children’s future education or plan your retirement finances, you may do so in several ways, including investing in the stock market, buying real estate for income and appreciation,...
by Admin | Jan 19, 2023 | Individual Taxes
According to one recent study, the probability of the United States experiencing a recession in the next year hit 96% in October 2022. If you needed a single statistic to outline the importance of paying attention to what is going on with the economy on a regular...
