GET IN TOUCH GET IN TOUCH With the filing season for the 2022 tax year officially underway, many Americans are already looking ahead to tax planning for the 2023 tax year. After a year in which the most extreme inflation in decades drove prices sky-high for expenses like rent, gas, and groceries, the IRS’ annual…Read More
GET IN TOUCH GET IN TOUCH All eyes are on the IRS this year, with interim Commissioner Douglas O’Donnell (Charles Rettig’s term ended in November of 2022) assuming leadership of a long cash-strapped agency now flush with billions of dollars of new funding and eager to crack down on tax evaders. As the IRS kicks…Read More
GET IN TOUCH GET IN TOUCH Understanding the tax implications of rental income is essential to being successful as a landlord. Whether you own a single rental unit or a portfolio of properties, you must know how to properly report your rental income and expenses to the IRS to maximize your tax savings and ensure…Read More
GET IN TOUCH GET IN TOUCH For many taxpayers, the word “audit” alone triggers anxiety and stress. In fact, as this survey reveals, 47% of Americans feel anxious when they receive any correspondence from the IRS, with nearly a third worrying they will be audited despite feeling very confident that their tax returns are error-free.…Read More
GET IN TOUCH GET IN TOUCH If you live, work, or do business in multiple states, your income may be subject to the taxation requirements of various jurisdictions. This can get complex and confusing very quickly. For example, how do you determine your state income taxes if your income comes from more than one state?…Read More
GET IN TOUCH GET IN TOUCH High-income taxpayers, will tax phaseouts affect your deductions or credits this year or the next? It’s an important and timely question. As you are undoubtedly aware, the past few years of pandemic and inflation-related economic turbulence have brought plenty of changes for U.S. taxpayers in all income brackets. While…Read More
GET IN TOUCH GET IN TOUCH With the end of the year approaching and the start of the 2022 tax filing season approaching, the window to get ahead of the game is almost shut. If you haven’t already done so, the best time to get serious about your tax planning strategy for the 2022 tax…Read More
GET IN TOUCH GET IN TOUCH Employee stock options, which allow employees to buy shares of the company they work for at a discounted rate, are an excellent way for employees to reap some reward from their employer’s success. As such, they have remained popular as a part of many employee compensation packages for decades.…Read More
Raising children can be very expensive.
Luckily, there are deductions available for some families with children could help reduce your taxable income, putting more money back in your pocket — at least until it’s time to pay for daycare, anyway!
In our latest blog post, we provide an overview of the various tax deductions available for families with children and some strategies for maximizing those deductions.Read More
GET IN TOUCH GET IN TOUCH A lot is happening these days, and it’s not always easy to keep up. This past year has been no exception. From policy and legislative changes to the ongoing economic impact of the pandemic to significant changes to the IRS user experience, it’s been a hectic year — and…Read More