Article Highlights:
October 16, 2023 is the extended due date for 2022 federal 1040 returns.
Late-filing Penalty
Interest on Tax Due
Other October 16 deadlines
If you could not complete your 2022 tax return by April 18, 2023…
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October 2023 Individual Due Dates
October 2 - Fiduciaries of Estates and Trusts
File a 2022 calendar year return (Form 1041). This due date applies only if you were given an extension of 5½ months. If applicable, provide each beneficiary…
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Article Summary:
Home Sale Exclusion
Primary Residence
Second Home
Fixer-upper
Rental
With careful planning, and provided you follow the rules, the tax code allows you to use the home sale gain exclusion every two years.
Let’s…
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A recent Stanford study reviewed the aftermath of the Enron collapse and the repercussions to Enron's accounting firm's former clients. The primary trend they identified was when former clients issued accounting restatements or revisions because…
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Article Highlights:
Sale of a Rental Property Converted to a Personal Residence
Exclusion of Gain on Sale of Personal Residence – The Ownership and Use Tests
Partial Exclusion of Gain
The Impact of a Rental Period After 2008
…
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The kids are back in school! Things like student loans, scholarships, and fellowship grants can play a role in parents’ and college students’ tax liability. Let’s look at how education costs can impact your taxes.
Student Loan Forgiveness
Student…
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Article Highlights:
Predicting Social Security Income
Planning for the Future
Employer Retirement Plans
Tax Incentive Retirement Savings Plans
Are you ignoring your future retirement needs? That tends to happen when you are…
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September 2023 Individual Due Dates
September 1 - 2023 Fall and 2024
Tax Planning Contact this office to schedule a consultation appointment.
September 11 - Report Tips to Employer
If you are an employee who works for tips and received more…
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Are you wondering where the world economy is going and how your personal finances will stand up to the changes? If so, you are not alone. Part of the fun of being on this planet is planning for the future even when it’s not clear what…
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Article Highlights:
Head of household filing status
Earned income tax credit
Child tax credit
Child care credit for certain working grandparents
Grandchild’s education credits
Medical and dental expenses
More and more…
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October Extended Due Date – Just Around the Corner
2023 Due Dates, 2023 TaxesOctober 2023 Important Due Dates
2023 Due DatesUsing the Home Sale Gain Exclusion for More than Just Your Home
Home OwnershipThe Hidden Costs of Sloppy Bookkeeping
Accounting, BusinessTax Issues When Converting a Rental to Your Personal Residence
Rental PropertyHow Does Education Impact Your Taxes?
Education, Student Loans, Tax TipsAre You Ignoring Retirement Planning?
RetirementImportant September 2023 Due Dates
2023 Due DatesFinancial Planning for All Ages
Finance Tips, Financial PlanningTax Breaks for Grandparents
Tax Credits, Tax Tips