Year-End Tax Cutting Ideas

Year-End Tax Cutting Ideas

Yes, there are moves you can make to reduce your taxable income. But the year is quickly coming to a close, so plan accordingly. Tax loss harvesting. If you own stock outside a tax-deferred retirement plan, you can sell your under-performing stocks by December 31 and...
Ways to Claim (Tax) Credit for Going Green

Ways to Claim (Tax) Credit for Going Green

If you’re planning energy-efficient home improvements or considering the purchase of an electric vehicle in 2023, The Inflation Reduction Act (IRA), signed into law in August, may hold some tax breaks for you. The climate portion of the 2022 Inflation Reduction Act...
Still Time to Reduce any Tax Surprises!

Still Time to Reduce any Tax Surprises!

Consider conducting a final tax planning review now to see if you can still take actions to minimize your taxes this year. Here are some ideas to get you started. Review your income. Begin by determining how your income this year will compare to last year. Since...
Watch for These Tax Suprises

Watch for These Tax Suprises

Our tax code contains plenty of opportunities to cut your taxes. There are also plenty of places in the tax code that could create a surprising tax bill. Here are some of the more common traps. Home office tax surprise. If you deduct home office expenses on your...
Start Your Tax Planning NOW!

Start Your Tax Planning NOW!

Keeping your taxes as low as possible requires paying attention to your financial situation throughout the year. Here are some tips for getting a head start on tax planning for your 2022 return: Check your paycheck withholdings. Now is a good time to check your tax...
Summer Jobs and Taxes

Summer Jobs and Taxes

Now is the time to prepare for the not-so-pleasant part of having a summer job – paying taxes! Here’s what you can expect depending on what type of job you have this summer. The employee. A job at a retail store or restaurant generates earned income that is subject to...