If you own a small business, consider the following tax saving strategies to help minimize your 2020 tax bill.Read More
Archive for the ‘Tax Planning’ Category
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2021 Inflation Adjustments & Tax Tables
The IRS has issued the 2021 annual inflation adjustments for may tax provisions, along with the 2021 tax rate tables for individuals, trusts and estates.Read More
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Individual Tax Planning Strategies for 2020
Here are some individual tax planning strategies to consider to lower your tax burden as we reach the close of 2020Read More
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Understanding the Passive Activity Loss Rules
The passive activity loss rules can be complex and confusing for some taxpayers. Here’s what you need to know.Read More
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Year-End Moves for Charitable Giving
Studies show that November and December are the most popular months for charitable giving. Here are some ways to maximize your deduction if you itemizeRead More
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7 Expiring Tax Breaks for Individuals
Here are some expiring tax breaks you might want to cash in on before year end. Proper planning can help substantially lower your 2020 federal tax bill.Read More
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Offer FSAs to Employees? You May Need to Act Before Year End
If you offer employees FSAs, it’s important to keep abreast of the latest changes, including those made by the CARES Act.Read More
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Take Aim at Tax Credit for Hiring Target Workers: WOTC
If your business is actively recruiting, consider certain “target” groups that could qualify for the Work Opportunity Tax Credit (WOTC)Read More
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Are First-Year Depreciation Write-Offs Right for Your Business?
Here’s what you should know before claiming first-year depreciation write-offs for eligible assets that are placed in service in the current tax year.Read More