Entries by IslerNW

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Unexpected Windfall or Financial Pitfall? Navigating the Tax and Financial Consequences of Losing Your Job

Article Highlights:  Severance Pay Unemployment Compensation Health Insurance COBRA Marketplace Employer Retirement Plans Repaying Retirement Plan Loans Moving and Home Sale Navigating the Financial Consequences Losing a job is a significant life event that not only affects your immediate emotional well-being but also has profound tax and financial implications. From severance pay to unemployment benefits, […]

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Surprising Tax Impact of Converting Your Traditional IRA to a Roth IRA

Article Highlights: Understanding Traditional and Roth IRAs The Conversion Process Benefits of Converting Tax-Free Withdrawals No Required Minimum Distributions Estate Planning Advantages Pros and Cons of Converting Age Considerations Other Tax-Related Issues Non-Deductible Traditional IRAs Conversion Income Net Investment Income Surtax Paying the Tax on a Conversion Tax Strategy Taxpayers are limited in the annual […]

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Important September 2024 Due Dates

September 2024 Individual Due Dates September 1 – 2024 Fall and 2025 Tax Planning  Tax Planning Contact this office to schedule a consultation appointment. September 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during August, you are required to report them […]

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Cash In on Global Wealth: How Working Abroad Can Slash Your Tax Bill and Expand Your Horizons

Article Highlights: Qualifications Tax Home in a Foreign Country Foreign Earned Income Bona Fide Residence Test Physical Presence Test Foreign Housing Exclusion and Deduction Married Couples Self-Employed Individuals Earned Income Tax Credit Foreign Tax Credit Combat Zone Workers Flight Attendants State Tax The Foreign Earned Income Exclusion (FEIE) under Section 911 of the U.S. Internal […]

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Protecting Our Seniors; Understanding and Preventing Scams

Article Highlights: Understanding the Threats Common Scams Targeting Seniors Awareness and Protection Strategies Tips for Caregivers Key Points to Remember IRS Advice and Resources Key IRS Recommendations What to Do if Scammed Long-Term Steps As our population ages, seniors increasingly become targets for a variety of scams. These fraudulent schemes can have devastating financial and […]

Important August 2024 Due Dates

August 2024 Individual Due Dates  August 12 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during July, you are required to report them to your employer on IRS Form 4070 no later than August 12. Your employer is required to withhold FICA […]

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Invest in Customer Experience to Boost Your Bottom Line

In today’s competitive business landscape, providing an exceptional customer experience (CX) is no longer a luxury—it’s a necessity. Companies that prioritize CX not only foster customer loyalty but also see significant improvements in their financial performance. This article explores how investing in customer experience can enhance your bottom line, focusing on the accounting, cash flow, […]