Blog - Haven Tax Group

Understanding Tax Credits

June 4, 2025

When planning ahead, or just engaging in their day to day operations, most business owners at least occasionally think about tax deductions. A business dinner that can be partially deductible, or a new machine that can be depreciated. However, they often don’t think about or plan how to acquire other

Logical Tax Planning

May 28, 2025

It’s hard to be logical all the time about everything. The most financially successful tax clients we serve at least attempt to force themselves to be logical, for their own benefit. For instance, our parents, as well as a subset of the economy including some popular radio show based advisors

Mistakes Can Go Both Ways!

May 21, 2025

Many times business owners have come into our office and with our help have found that they were doing things incorrectly regarding their bookkeeping and taxes. Occasionally, the errors add to the tax burdens that they have been under-reporting. That never feels good, but it is always better to fix

How to Avoid Capital Gains Taxes Still Seems to Mystify the Public

May 14, 2025

When people are contemplating selling an asset like a house, an investment property, stock or a business asset, it’s usually to make a profit or to raise cash. Sometimes, a house is sold in order to buy bigger (or smaller), to move to a different town to take a new

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Give a Little and Get More than a Little Back!

May 7, 2025

Tax Planning is a constant stream of adaptation to the new rules that the government and IRS come up with annually. One year we have a tax credit for new windows, the next year it goes away, but a new credit for heat pumps is added. The only constant is

Like It or Not, Taxes are Constantly Changing

April 30, 2025

Tax policy and rates have always been fluid, much more so than most people realize, as they only focus on it for short periods one time a year. You also don’t see many high school or college classes on the history of taxes and tax planning, unless you’re in accounting

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Accountants Should Change the Category Descriptions in Bookkeeping Systems After They Learn of Tax Changes. Most Don’t.

April 23, 2025

There is nothing permanent except change! Stated by a Greek philosopher over 2500 years ago and it still stands true, especially in the tax code. Sometimes there are big changes, like those potentially coming with the expiration of TCJA, and sometimes small changes, but it’s a good bet that every

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Tax Planning Gem: Use a CRAT or CRUT to “Put Back” Your Stretch IRA Options for Non-spouse Beneficiaries!

April 16, 2025

Current tax rules now require that the entire balance of a non-spousal participant’s inherited IRA account to be distributed or withdrawn within 10 years of the death of the original owner. The 10-year rule applies regardless of whether the participant dies before, on, or after the RMD (required minimum distribution) age

People Complain About Taxes, but Most Avoid Planning Better Outcomes!

April 9, 2025

It’s human nature, of course. We complain about our weight while in the line at the ice-cream stand. We complain about being tired, then stay up late playing the latest game on our smart devices. Humans are funny and contradictory animals. Have you ever noticed that when you’re in a