Tax Return Review Hints
Prior to e-filing your tax return, you will need to review it. Here are some suggestions to ensure that everything looks right.
Defending Fair Market Value
With proper planning, establishing the fair market value of an item sold or donated can be done in a way that can be defended against a challenge from the IRS.
Review Your Social Security Earnings Report
When was the last time that you reviewed your Social Security records? Waiting until retirement may be too late to correct past errors. Luckily, there are steps that you can take now to be prepared.
Is a Tax Time Bomb Lurking in Your Paycheck?
Did your paycheck seem a little higher? If so, it could be a tax time bomb. Learn more on our latest “Tax Tip of the Week”!
Make the Most of Your 401(k) Plan
With the future of Social Security uncertain and company pension plans being cut back, careful management of your 401(k) becomes very important. Here are some basic guidelines to help you make the most of your 401(k) investments.
Adjusted Gross Income (AGI)
Adjusted Gross Income (AGI) is a central term in the IRS vocabulary. Can you provide a working definition of the term? Doing so is often the starting point for effective tax planning.
IRS Rules Make Retirement Plan Withdrawals Mandatory
Do you own a traditional IRA, SEP-IRA, SIMPLE IRA, Keogh plan, 401(k) plan, or 403(b) plan? If so, you’ll have to start taking distributions when you reach age 70. If you don’t, you’ll forfeit 50% of the amount you should have taken but did not. Learn more on our latest blog!
The Alternative Minimum Tax: Will it affect you?
In your tax planning, don’t overlook how your tax-saving strategies might be affected by the alternative minimum tax. Here is what everyone should know, detailed on our latest blog!
Reminder: Third Quarter Estimated Taxes Were Due!
If you have not already done so, please plan to make your third quarter estimated tax payment. The due date was Tuesday, September 15th!
Tax Shifting Ideas to Reduce Your Bill to Uncle Sam
Because our tax system is progressive, the next dollar you earn could be taxed at a much higher rate. By shifting taxable income levels from one year to the next, you could potentially pay a lower tax amount in both. Here are six great ideas, detailed on our latest “Tax Tip of the Week”!