Tax Planning in July?   Mid-summer Planning Can Get You on the Right Track.  July 8,  2019   With summertime activities in full swing, tax planning is probably not on the top of your to-do list. But putting it off creates a problem at the end of the year when...

Your Guide to Post Tax-filing Record Retention May 6, 2019   If the IRS or state revenue department selects your return for review, you will need to be prepared. Here is what you need to know: Keep a Copy of Your Form 1040 Indefinitely Do not toss or destroy any...

Tax Planning for Life Changes May 1,  2019   Effective tax planning helps you make smart decisions now to get the future outcome you desire - but you need to make sure you don't miss anything. Forget to account for one of these situations and your tax plans...

Payment Arrangements for Taxes April 8,  2019   If you owe taxes on your 2018 tax return, the due date to make the payment is Monday, April 15. Miss this deadline by just one day and the IRS will charge you interest and penalties! Don’t risk adding...

Deductions for Non-Itemizers April 4,  2019   A common misconception in tax filing has been that if you use the Standard Deduction versus itemizing your deductions you have few additional benefits available to reduce your tax bill. This is often not the...

Tax Tips for Investors April 9,  2019   1. Capital Gains Carry a Special Favored Tax Status. The tax rates on long-term capital gains are lower than the rates on ordinary income (such as wages and business income). Consider putting more of your...

5 Questions to Ask as the Tax Deadline Approaches April 3,  2019    1. What Happens if I Don’t File On Time? There’s no penalty for filing a late tax return after the deadline if you are set to receive a refund. However, penalties and interest are due if...

Tax Tips to Aid in Retiring Early March 25,  2019   1. Maximize Tax Advantaged Retirement Accounts. Retirement accounts like Traditional IRAs and 401(k)s allow qualified taxpayers to save pre-tax money, invest the funds, and not pay taxes until the funds are...

Know the Rules of Capital Gains & Dividends March 14,  2019   Capital Gains and Dividends are subject to a number of different tax rates. Because of this, know the rules can be a great way to cut your tax bill. Dividends For most taxpayers, qualifying...

Ten Tax Tips for Individuals March 6,  2019     1. Reduce Your Consumer Debt. The interest you pay on consumer debt is not deductible. Consider shifting consumer debt to a home-equity loan (where available and not to exceed $100,000) to...

Federal Tax Return Exceptions Do you need to file a Federal tax return? March 4,  2019   One of the more common tax questions is whether you need to file a federal tax return this year. The answer is: it depends. But not filing a tax return when you should...

New Tax Rules: Creating Confusion for Homeowners February  15,  2019   Because of new laws many home related tax rules have changed and now require you to prove how funds are used to qualify for a deduction. This is catching many taxpayers by surprise. So when...

Conduct a Financial Review at Tax Time February  27,  2019 Tax filing time is an ideal time to review your financial affairs. You have to gather information to prepare your tax return at this time. Why not take one more step and do something positive for...

Major Life Changes Ahead? Tax Implications to Come February  19,  2019 Too often major life decisions have tax implications attached to them. For the unwary, this can create a fairly large and unexpected tax bill. Here are four examples of major life changes...

How to Correct Common Financial Mistakes February  13,  2019 You're working at the office, getting stuff done around the house, or hanging out with family when - wham! - a phone call, email or text alerts you that something is wrong with your finances. When...

  Tax Strategies for Homeowners January  22,  2019 Be aware that important tax consequences are often associated with some fairly common events involving your home. Here are some handy things to know. Home Purchase. When purchasing a home, you may pay a...

  Navigating the New Form 1040  January  11,  2019 We are here to help navigate the biggest tax overhaul in 30 years on a new Form 1040 with six new schedules. Now that the new Form 1040 is finalized, here are three main takeaways for this tax...

  Resolutions for a Faster Tax Refund January  7,  2019  As the tax filing season approaches, there are steps you can take now to speed up the filing process. The faster your return is filed, the faster you get your refund. Even if you end up owing money to...