Category Archives: Tax Preparation

Year-End Tax Planning for Individuals

year-end tax planningWith the end of the year fast approaching, now is the time to take a closer look at tax planning strategies you can use to minimize your tax burden for next year. Continue reading

Be Prepared When Natural Disasters Strike

preparing for natural disastersWhile Fall is the prime time for Atlantic hurricanes, natural disasters of all kinds can strike at any time. As such, it’s a good idea for taxpayers to think about–and plan ahead for–what they can do to be prepared. Continue reading

New Tax Rules for Divorce and Alimony Payments

divorce paymentsDivorce is a painful reality for many people both emotionally and financially, and quite often, the last thing on anyone’s mind is the effect a divorce or separation will have on their tax situation. To make matters worse, most court decisions do not take into account the effects divorce or separation has on your tax situation, which is why it’s always a good idea to speak to an accounting professional before anything is finalized. Continue reading

It’s Not Too Late to Check Paycheck Withholding

check paycheckDid you know that the average tax refund was $2,729 for tax year 2018? While some taxpayers may find it advantageous to get a large tax refund, others may wish to have more of their money show up in their paychecks throughout the year. No matter which preference taxpayers choose, they should remember that they can make adjustments throughout the year that will influence the size of their refund when they file their tax return next spring. Continue reading

October 1 Deadline to Set Up Simple IRA Plans

Simple IRAsOf all the retirement plans available to small business owners, the SIMPLE IRA plan (Savings Incentive Match PLan for Employees) is the easiest to set up and the least expensive to manage. The catch is that you’ll need to set it up by October 1st. Here’s what you need to know. Continue reading