by Admin | Mar 24, 2022 | Business Taxes, Individual Taxes, Tax Planning
If you are required to pay quarterly estimated income tax, an upcoming change in interest rates being imposed by the IRS may have a direct impact on you. Effective April 1, 2022, corporations and self-employed filers who submit quarterly estimated taxes will see a...
by Admin | Mar 22, 2022 | Individual Taxes, Tax Planning
You may hear people use the term “Stepped-Up Basis” that many believe is a tax provision that allows beneficiaries of an inheritance to reduce or even avoid taxes when and if they sell inherited property. When an individual sells property, any gain from the sale of...
by Admin | Mar 1, 2022 | Individual Taxes, Tax Planning
It’s hard to ignore the real-life impacts inflation is having. While gas and grocery prices are having the most immediate effect, the price of almost everything is going up. People who are looking for ways to counter the impact and preserve financial stability...
by Admin | Feb 21, 2022 | Individual Taxes, Tax Planning
The Qualified State Tuition Plan, often referred to as the Sec 529 Plan, is a tax-beneficial incentive for parents, grandparents, and others to save money for an individual’s future college tuition and fees. There is no federal tax deduction for making contributions....
by Admin | Feb 15, 2022 | Individual Taxes, Tax Planning
According to the Social Security Administration, 10,000 baby boomers a day are reaching the age of 65, as of 2018 16% of Americans were age 65 or older, and by 2030 all boomers will be at least 65. Boomers aren’t the only reason the nation’s overall population is...
by Admin | Feb 8, 2022 | Individual Taxes, Tax Planning
If you have a child or children in college, or perhaps you or your spouse is a student, it can be confusing to figure out which of the two potential education tax credits you are eligible for and give you the greater tax benefit. There are two higher-education tax...
