Individual Year-end Tax Planning Moves
It’s almost the holiday season, so year-end tax planning is probably not at the top of most taxpayers’ minds. But along with the festivities, it’s also an excellent time to consider …
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Year-end Business Tax Planning Strategies
As 2024 is nearing its end, now is an excellent time to consider year-end strategies to help reduce the tax your business will owe. The effectiveness of a particular action …
What do IRS auditors know about your business industry?
To prepare for a business audit, an IRS examiner generally researches the specific industry and issues on the taxpayer’s return. Examiners may use IRS Audit Techniques Guides (ATGs). A little-known …
Tax-Smart IRA Withdrawal Strategies to Minimize Your Liability
As the year winds to a close, your chance to lower your 2024 tax bill also winds down. Certain taxpayers may be able to make qualified charitable distributions (QCDs) using …
Understanding Tax Implications of Employer-Provided Life Insurance
If the fringe benefits of your job include employer-paid group term life insurance, a portion of the premiums for the coverage may be taxable. That could result in undesirable income …