Education Savings: How a Sec 529 Plan Can Transform Your Family's Future
UncategorizedArticle Highlights:
What is a Sec 529 Plan?
Tax Benefits of Sec 529 Plans
Funding a Sec 529 Plan
Who Can Contribute to a Sec 529 Plan
Gift Limitation and the 5-Year Option
Form 709 and Making Up Contributions
Higher Education…
Who Needs to File a Tax Return in 2024
UncategorizedArticle Highlights:
Factors That Affect Whether Someone Needs to File a Tax Return
Gross Income
Required Filing Threshold
2023 Filing Thresholds by Filing Status
Self-employment Status
Status as a Dependent
Some Individuals…
Demystifying Business Valuations: A Guide for Informed Decision-Making
UncategorizedAs a business owner, understanding the value of your company is crucial for various scenarios, from transactions to tax reporting, financial reporting, and even potential litigation. In this comprehensive guide, we’ll address ten commonly…
Business Growth: How to Plan for (and Make the Most of) This Critical Stage
Business, Business Development, Growth, UncategorizedWhile it's true that every business is different from the next - and every entrepreneur will go on his or her own unique journey - there are still a few constants that we know to be true.
The start-up phase, for example, is when you write…
Multiple Tax Needs Filled By Health Savings Accounts
Health Savings Accounts, Tax Tips, UncategorizedArticle Highlights:
Medical Savings Account
Retirement Account
High-Deductible Plan
Eligible Individuals
Monetary Qualification for an HSA
Qualification Chart
Maximum Contributions
Establishing an HSA
The Health…
March 2022 Tax Due Dates & Reminders
2022 Taxes, Due Dates, Taxes, UncategorizedMarch 2022 Individual Due Dates
March 10 - Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no later than…
February 2022 Individual and Business Due Dates
UncategorizedFebruary 2022 Individual Due Dates
February 4 - Tax Appointment
If you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you.
February 10 - Report Tips to Employer
If…
How Can a Nonworking Spouse Qualify to Fund an IRA?
UncategorizedArticle Highlights:
Spousal IRA
Compensation Requirements
Maximum Contribution
Traditional or Roth IRA?
One of the fallouts of the COVID-19 pandemic is that millions of people have dropped out of the workforce, particularly…
2022 Standard Mileage Rates Announced
Tax Tips, UncategorizedHighlights:
Standard Mileage Rates for 2022
Business, Charitable, Medical and Moving Rates
Important Considerations for 2022
Switching Between the Actual Expense and Standard Mileage Rate Methods
Employer Reimbursements
Employee…
Understanding Tax Lingo
Taxes, UncategorizedArticle Highlights
Filing status.
Adjusted gross income (AGI).
Taxable income.
Marginal tax rate.
Alternative minimum tax (AMT).
Tax Credits.
Underpayment of estimated tax penalty.
When discussing taxes, reading tax…