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Tax Tips

January 15th, 2020 Newsletter

Frequently Overlooked Tax Deductions After the sweeping new federal tax law took effect in January 2018, about 90% of taxpayers took a standard deduction for that tax year rather than itemize, up from about 70% the year before. But if you are planning to take … Bottom Line, Inc How Early …

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January 1st, 2020 Newsletter

10 Tax Breaks for the Middle Class If you believe that tax breaks are only available for hedge fund managers and companies with offshore subsidiaries, you’re probably paying too much to the IRS. The fact is that lawmakers have enacted dozens of tax incentives … Kiplinger Avoid an Audit by Knowing …

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December 18th, 2019 Newsletter

How to File Your Child’s First Income Tax Return As your child moves toward adulthood, you face several milestone decisions. In each case, part of the decision involves a desire to help your child become more independent and responsible. But one milestone you may … Investopedia The Most-Overlooked Tax Breaks for …

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December 11th, 2019 Newsletter

10 Surprising Things That Are Taxable If you work for a living, you know that your wages are taxable, and you’re probably aware that some investment income is taxed, too. But the IRS doesn’t stop there. If you’ve picked up some extra cash through luck, skill or … Kiplinger How to …

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December 4th, 2019 Newsletter

6 Strategies to Protect Income From Taxes Earned income gets taxed in many ways: at the federal and state levels, and by Social Security and Medicare, to name a few. Taxes are difficult to avoid, but there are many strategies around to help ward them off … Investopedia Is your bag …

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November 27th, 2019 Newsletter

10 IRS Audit Red Flags for Retirees You may be wondering about your odds of an IRS audit. Most people can breathe easy. The vast majority of individual returns escape the IRS audit machine. In 2018, the Internal Revenue Service audited only 0.59% of all individual … Kiplinger Tax Planning For …

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November 20th, 2019 Newsletter

Income Tax Brackets for 2020 vs. 2019 Tax planning is all about thinking ahead. So, now that the IRS has released the new tax brackets for the 2020 tax year, you can (and should) start thinking about how to handle your 2020 finances in a tax-efficient way— even … Kiplinger Are …

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November 13th, 2019 Newsletter

Can I Deduct My IRA on My Tax Return? Is a contribution to an individual retirement account (IRA) tax-deductible? For many of us, the short answer is: You bet! That’s what IRAs are for! But this is the Internal Revenue Service (IRS) we’re talking about, so there … Investopedia End-of-Year Moves …

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November 6th, 2019 Newsletter

10 Year-End Moves to Lower Your 2019 Tax Bill Don’t let the holidays sidetrack your tax planning. Moves you make between now and the end of the year can have a significant effect on how much tax you have to pay next April. This is particularly true if you’re saving …

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October 30th, 2019 Newsletter

Withhold Too Little? You Could Owe Tax Penalties The chance you under-withheld taxes last may be higher than you think. A 2018 report by the Government Accountability Office (GAO) suggests that a fifth of taxpayers, more than 30 million people, may owe taxes due to underwithholding … Investopedia Unusual or Overlooked …

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