COVID-19 created many unexpected adjustments to working and moving this year. Could these changes result in additional state tax exposure and withholding obligations for individual taxpayers and business owners?
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A donor-advised fund is a great way to manage your charitable giving and save on taxes. You can take a tax deduction immediately when you provide the donation. Then, the donated funds can be invested and grow tax free. Think of it as creating a sort of personal "savings account" from which you can make donations to causes you care about for years to come.
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When you receive a large sum of money, your life can change in many profound ways. However, a financial windfall is not without consequences. One of the most immediate of those consequences is your tax liability.
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Online tax tools make it easy for the average person to file their annual tax returns, but there are many scenarios where more sophisticated tax strategies can save a significant amount of money, making the ROI on personal tax advising very worthwhile for high earners with complex financial situations and those with sudden windfalls.
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With the Coronavrius epidemic impacting the US economy, the IRS and the Secretary of the Treasury have recently announced changes to 2020’s (2019 tax year) usual deadlines.
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Danielle McCarthy, CPA, MST explains the difference between tax planning and tax preparation, key tax optimizations you can make on your own, and how to most productively work with an accountant.
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2018 saw one of the most significant tax reforms in recent history. Not only are the personal and corporate tax brackets lower for 2018, but the standard deduction has doubled, several deductions and exemptions have either changed or been eliminated, and new credits are available. We explore what to consider in your 2018 tax year filing as well as a what to consider for the 2019 tax year that you can implement now.
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