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If You Give to Charities or Have Plans to In the Future, It’s Not Too Late to Reduce Your Current Tax Bill!

November 13, 2024

Many people have the intention of doing a better job of “tax planning” in order to start having more favorable outcomes, but busy lives and life interruptions can leave them little time.  If this is you, you’re not alone.  Time flies even in normal times, but with the current stressful

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Tax Planning Boost is Likely Due to Election Results

November 7, 2024

Many people in the tax planning industry were expecting a democratic win and big changes in tax policy. With Trump’s victory, many of those same tax planners are expecting no changes and extensions of the policies that were going to expire in 2025. Although some things will likely continue as

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Simple or Complex, Tax Planning is Important!

October 30, 2024

Sometimes “tax planning” can be easy: “Open an IRA and it reduces your taxable income.” Other times it can be quite complex: “Cost segregation” on a building means hiring an engineering firm and having a structure broken down into its many components on paper, with each value separately listed; the

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Fix the Underpayment Tax Penalty You’re Headed For with A Simple Halloween Trick

October 23, 2024

In a few months the U. S. will begin filing tax returns again, and at tax firms all over the country people will be making the “E-Trade” Shocked Baby Face (remember him?) when they see they are being charged penalties and interest for under paying their taxes due. Even if

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The Only Constant is Change (Especially with Taxation)

October 16, 2024

We talk a lot about people not doing tax planning and not spending more time creating the tax outcomes they want. We urge people to understand that it’s within their own control and that tax outcomes can be legally and ethically manipulated. We go on and on about the benefits.

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Smart Business Owners Increase their Company’s Sale Value Before and After Tax by Planning Ahead

October 9, 2024

Most business owners in any five year period can answer yes to at least one of these life event questions that would cause them to need to know what their company is worth. 1. Are you contemplating the sale of your business? 2. Are you working with or bringing in

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A Hidden Tax That You Can Avoid Paying with Proper Planning

October 3, 2024

People who earn more than a certain amount and who are enrolled in Medicare Part B or Medicare Part D, or both, will face additional premiums, called The Medicare Income-Related Monthly Adjusted Amount (IRMAA). IRMAA “surcharges,” which is a replacement word for a tax, are based on income earned two years prior to

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“Fall” Into Tax Savings for Next Year!

September 25, 2024

With signs of fall in the air, it’s time to start thinking about things that need to be done to prepare for winter. The garden harvests are rolling in, fresh vegetables are everywhere and it’s really, really great. Time to fill up your oil tanks before the price change, and

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Tax Planning: It Isn’t Just For Breakfast Anymore

September 18, 2024

All around the country, there are people in an absolute panic because the real tax deadline for personal tax return extension filers is approaching and they are running out of time. The exception would be for those who have been affected by flooding or other natural disasters and may be given an extended

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