Tag: Tax Planning

Garden

2024 Tax Numbers Are Out…and Ripe for Picking

Last week the IRS announced inflation adjustments to more than 60 tax provisions for 2024. Although “inflation adjustments” may not sound like that big of a deal, it may have some low hanging fruit you don’t want to miss picking. We are in an ideal time to plan for your future. Short-term interest rates are…
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November 15, 2023 0
Taxes

5 Tax Matters You Need to Know About

“In this world, nothing is certain except death and taxes.” – Benjamin Franklin While that may be true, changes to our tax system are not certain and are ever changing. So here we are again – a new day with new rules. Here are 5 things you need to be aware of, in no particular…
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September 5, 2023 0
Cut Taxes

Are You Doing Everything You Can to Save Taxes?

Most business owners have a similar story…They started out scraping and saving just to pay taxes, working with their accountant every year to get the tax they owed Uncle Sam down to the bare minimum. As time moved on, they restructured to an ‘entity’, bought equipment, changed their accounting a time or two, and maybe…
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March 21, 2023 0
Roth

Do You Like Tax-Free Money?

That was a rhetorical question, but for good reason: to get your attention. Only 15% of US households contributed to a traditional or Roth IRA in tax year 2021. 1. This means even less than that contributed to a Roth IRA since this percentage accounts for both types of contributions. You may be aware that…
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March 7, 2023 0
IRS

87,000 New IRS Agents – 10 Things You Need to Know

#10 The Truth: Part 1…The IRS is set to receive approximately $80 billion in increased funding in an effort to increase tax revenue by $203 billion. The claim by the GOP is that this will usher in an army of 87,000 new IRS agents. The truth is that there is not a set agenda to…
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January 18, 2023 0
2 Numbers

2 Numbers You Need to Know

$400,000 and $3.5 Million A few weeks ago, we were working with a family that could have severe estate tax issues in the future. When this risk was first exposed, the immediate response was this: We have until 2026 before anything can be changed, right? Unfortunately, this is a misconception. The tax code can be…
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February 15, 2021 0
Heart

The Gift of Giving

For most, the holidays represent a season of giving. Although giving to family and friends occupies most of our attention, charitable giving also plays a significant role at this time of year. From a tax and financial planning perspective, incorporating charitable giving into one’s year end activities can make a lot of fiscal sense. As…
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December 18, 2019 0

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