High-net-worth individuals face unique challenges in managing their wealth, particularly when minimizing tax liabilities. Our firm offers expert guidance that will help you keep more of your money year after year.
Whether you own rental properties…
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When tax season rolls around every year, many pet owners wonder if they can get a tax break for their furry companions – after all, “pet parents” often consider their fur babies to be as much a part of the family as actual children.
Pet…
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June 2024 Individual Due Dates
June 10 - Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during May, you are required to report them to your employer on IRS Form 4070 no later than June…
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In the face of slowing economic times and rising labor costs, small and medium-sized businesses (SMBs) must find innovative ways to maintain profitability across all industries. One way to increase productivity and streamline day-to-day operations…
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Article Highlights:
Why We Keep Records
Audit Defense
Amending Returns
Claiming Refunds
Tax Basis
Duration for Keeping Tax Records
Federal Statute of Limitations on Tax Refunds
Tax Return Omissions
Indefinite…
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Article Highlights:
Exclusions from Gift and Estate Taxes
Annual Gift Tax Exclusion
Gifts for Medical Expenses and Tuition
Lifetime Exclusion from Gift and Estate Taxes
Spousal Exclusion Portability
Qualified Tuition Programs
…
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Payroll taxes can be a significant headache for many small—to medium-sized business owners. Without proper education, entrepreneurs can find themselves in trouble with the IRS and state tax agencies. Fortunately, if you’ve been struggling…
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Selling a property you have owned for a long period of time will frequently result in a large capital gain, and reporting all of the gain in one year will generally expose the gain to higher than normal capital gains rates and subject the gain…
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Article Highlights:
COVID 2020 Economic Impact Payments
Recovery Rebate Credit
Credit Refund Is About to Expire
$1,200 for Single Taxpayer and $2,400 for Married Couples plus $500 for Dependents.
How To Claim the Credit if Not…
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May 2024 Individual Due Dates
May 10 - Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during April, you are required to report them to your employer on IRS Form 4070 no later than May 10.…
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Keep More of Your Money: Top 12 Tax Strategies for the High-Net-Worth
Finance, Finance Tips, Financial PlanningPurr-fect Savings: The Secrets of Pet Tax Deductions
Deductions, Tax Planning, Tax RefundImportant June 2024 Due Dates
2024 Due DatesSmarter Headcount Management with AI
Business, Business Development, TechnologyThink Twice Before Tossing: The Critical Timing for Disposing of Your Tax Records Safely
Finance Tips, Financial PlanningGift and Estate Tax Primer
Tax Refund, TaxesPayroll Management: A Complete Guide for SMBs
Small BusinessInstallment Sale – a Useful Tool to Minimize Taxes
Tax PlanningReminder: Claims For Recovery Rebate Credit About to Expire
2024 Due Dates, COVID-19, Tax CreditsImportant May 2024 Due Dates
2024 Due Dates