Tag Archives: tax planning

Parents need to do estate planning

For a parent, estate planning is especially important. The first priority is to make sure your children are protected in the event that something happens to you. Your estate plan should appoint guardians for your minor children, as well as … Continue reading

Posted in 401 k, 529 plan, Business Owner, College Savings, education, Estate, Financial Planning, tax planning, Uncategorized | Tagged , , , | Leave a comment

Do you need to think about the alternative minimum tax?

You may not have thought much about the alternative minimum tax, or AMT, since Congress passed a law that permanently fixed the exemption. But the tax, which you calculate separately from your regular tax liability, is still around. Here’s how … Continue reading

Posted in Filing Taxes, Tax, tax advice, tax bill, Tax Return, taxes, Uncategorized | Tagged , , , , , , | Leave a comment

Get Ready for Tax Prep: What You Should Do

April 17 is still months away, but now’s the time to start preparing. You’re undoubtedly very busy right now. It’s the middle of the holiday season and moving quickly toward the end of the year, so you probably have reports … Continue reading

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Tax Planning, 12 Months a Year

We’re halfway through 2016. What do you know about this year’s income tax obligation? Your 2016 income taxes are probably not at the top of your mind in the middle of summer. After all, it seems like you just filed … Continue reading

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Three Tips to Start the Tax Filing Season

Check whether your children need to file a 2015 tax return. They’ll need to file if wages exceeded $6,300, self-employment income was over $400, or investment income exceeded $1,050. When income includes both wages and investment income, other thresholds apply. … Continue reading

Posted in Amended Tax Return, Business, business help, Business Owner, Employee Benefits, Filing Taxes, Financial Planning, save on taxes, Tax, tax advice, tax bill, tax exempt, Tax Return, taxes, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , | Leave a comment

Tax Breaks Extended Retroactively; Some are Permanent

In mid-December, Congress renewed a long list of tax breaks known as “extenders” that have been expiring on an annual basis. This year many of the rules are retroactive to the beginning of 2015. You may be able to benefit … Continue reading

Posted in Amended Tax Return, Business, business help, Business Owner, Filing Taxes, Financial Planning, guide, Operational Accounting, Operations, Tax, tax advice, tax bill, tax exempt, Tax Return, taxes, Uncategorized | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

Track Use of your Vacation Home to Maximize Tax Breaks

If you own a vacation home (some boats and recreational vehicles also qualify) that you also rent out to others, keep track of who uses it during the year to maximize your tax breaks. * Meet the rules and receive … Continue reading

Posted in Business, business help, Business Owner, Filing Taxes, Financial Planning, guide, invest, Investing, investment, marketing, Tax, tax advice, tax bill, taxes, Uncategorized | Tagged , , , , , , , , , | Leave a comment