When was the last time you devoted serious time and energy to improving your financial standing? There’s no time like the present. You’ve heard the clichés before. Spend less than you make. Pay yourself first. Pay off your debt. Live below your means. Create an emergency fund. Invest for retirement. Use the power of compounding […]
Merry Christmas to all! My gift to you is a dozen tips that will help make you tax efficient for 2019. 1. COMPLETE A MOCK RETURN Know your 2019 tax position and tax bracket now so you can determine which tax strategies will work best for you. High-income taxpayers need strategies to remove income from […]
Is there anything worse than owing the IRS? If you do, don’t fret; they have a collection process. (That’s bad sarcasm for a bad situation.) So what is a taxpayer to do when he owes back taxes? For whatever reason you owe the IRS (e.g. increased salary with under-withholding of income tax, underpaying estimated tax […]
Tax credits, qualified tuition programs, income exclusions and penalty waivers can help taxpayers with education expenses. A tax credit will reduce your taxes dollar for dollar and may even be refundable. A qualified tuition program is a program in which you are able to contribute to and accumulate earnings tax-free if funds are used for […]
Our duty to file our tax returns is upon us once again. Your tax filing agony is diminished when your data is organized and you let your certified public accountant, CPA, prepare it for you. Go through a basic checklist before meeting your CPA for the assurance of reporting all your income and claiming all […]
