07
Apr
TAX CALENDAR
This calendar notes important tax deadlines for the second quarter of 2025....
10
Mar
IT MAY NOT BE TOO LATE TO REDUCE YOUR 2024 TAXES
Taxpayers seeking to minimize their 2024 taxes may still be able to do so. Those who qualify can make a deductible 2024 contribution to a traditional IRA until the federal income tax return filing date (April 15, 2025)....
07
Feb
UPDATED GUIDE TO ROBUST DEPRECIATION WRITE-OFFS FOR YOUR BUSINESS
Section 179 of the tax code provides opportunities for substantial first-year depreciation deductions when a business places newly acquired qualifying assets into service. The Sec. 179 deduction amounts change annually due to inflation adjustments and certain limitations apply. Additionally, it’s important to consider any available...
20
Jan
ANSWERS TO FIVE KEY TAX QUESTIONS ABOUT 2025 TAXES
Early in the new year, most taxpayers are more concerned with their 2024 tax bills than how they’ll handle 2025 tax issues. However, as taxpayers contemplate and prepare for their annual tax filing, it’s a good idea to become familiar with the tax changes to...
10
Oct
TAX CALENDAR
This calendar notes important tax deadlines for the fourth quarter of 2024....
23
Sep
MEDICARE PREMIUMS MAY LEAD TO TAX SAVINGS
Do you pay premiums for Medicare health insurance? You may be able to combine them with other qualifying health care expenses and claim them as an itemized deduction for medical expenses on your tax return. This includes amounts for “Medigap” insurance and Medicare Advantage plans,...
02
Jul
TAX CALENDAR
This calendar notes important tax deadlines for the third quarter of 2024....
20
May
TO GET AN “EARLY” REFUND, ADJUST YOUR WITHHOLDING
Taxpayers who received a large tax refund this year may want to adjust their withholding. Each year, millions of taxpayers claim an income tax refund. That can represent a pleasant influx of cash. But it’s probably not the best use of cash for taxpayers. In...
05
Apr
TAX CALENDAR
This calendar notes important tax deadlines for the second quarter of 2024....
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Taxes
18
Mar
HAVE YOU RECENTLY REVIEWED YOUR LIFE INSURANCE NEEDS?
At one time, life insurance played a much bigger role in estate planning than it does now. That’s because life insurance was needed to pay estate tax, which affected more people than it does now. With the federal gift and estate tax exemption now at...
15
Mar
THE CHILD TAX CREDIT IS STILL AVAILABLE
Parents know that raising children is expensive. Although some of the enhancements of the Child Tax Credit (CTC) have expired, the credit is still available for eligible parents of children under age 17. Plus, there’s still time for taxpayers to claim the CTC on...
11
Sep
PLAN AHEAD FOR HEALTH SAVINGS ACCOUNTS IN 2024
The IRS has released guidance that includes the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). This article lists the benefits, requirements, and contribution limits of HSAs for 2023 and 2024....