The Paycheck Tax Tip – A Great Place to Lower Your Taxes

2024-02-27T01:54:42-05:00February 26th, 2024|Taxes|

The tax code has plenty of ways to reduce your taxable income, and many take place on your paycheck. If you haven’t already done so, now is a great time to conduct a thorough review of your paystub. Here are some tips: Review insurance withholdings. Many employers adjust the amount you contribute for your insurance [...]

IRS Identity Theft Season Begins Now

2024-02-27T01:52:48-05:00January 26th, 2024|Taxes|

Each year thieves try to steal billions in federal withholdings by stealing your identity. As the IRS focuses more attention on this quickly growing problem, now is the time of year to be extra vigilant. Early tax filing season is the worst time Your federal tax account at the IRS currently has plenty of [...]

SMALL BUSINESS ALERT: New Federal Reporting Required

2024-02-27T01:58:53-05:00January 19th, 2024|Taxes|

Especially important for new business startups... Beginning in 2024, many small businesses will have to report information about their owners to the Financial Crimes Enforcement Network (commonly referred to as FinCEN), a bureau of the U.S. Department of the Treasury that collects and analyzes information to help fight financial crimes. Here is what you [...]

Reminder: Fourth Quarter Estimated Taxes Now Due

2024-02-27T02:09:28-05:00January 5th, 2024|Taxes|

If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The 4th quarter due date for the 2023 tax year is now here. Due date: Tuesday, January 16, 2024 You are required to withhold at least 90 percent [...]

Tips for a Smooth Tax Season

2024-03-05T17:00:13-05:00January 3rd, 2024|Taxes|

Gather your tax information for filing. Items you'll need include W-2s, 1099s, K-1s and other forms you receive from your business, employers, brokers, banks, and others. If you find any errors, contact the issuer immediately to request a corrected copy. Organize your records. Once you've started gathering your information, find a place to put all the [...]

Great Tax Tips to Start the New Year

2024-03-05T17:47:52-05:00December 29th, 2023|Taxes|

The old year is ending and the new one is about to start. Here are some tax tips to get you going into the new year with a brighter tax future on your horizon. 1. Review beneficiaries. Now is the time to review beneficiaries in all your retirement accounts and insurance policies. While it might [...]

Babies and Children, Tax Tips Everyone Should Know

2024-03-05T17:52:37-05:00December 22nd, 2023|Taxes|

For parents, challenges come from every direction – feeding times, car seats, sleep schedules, strollers, child care and of course ... taxes. What most parents do not consider is that these bundles of joy complicate their tax situation! Whether you are a parent, grandparent, or know someone who is expecting, here are some tax [...]

Plan Your 2024 Retirement Contributions

2024-03-05T18:01:43-05:00December 8th, 2023|Taxes|

As part of your planning for next year, now is the time to review funding your retirement accounts in 2024. Recent cost of living calculations means much higher contribution limits for next year. Plus the higher income phaseouts for eligibility will make many more taxpayers eligible for fully-deductible contributions. So plan now to take [...]

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