Taxes

Your Year-Round Tax Planning Check-Up

11th Apr, 2025

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Your Year-Round Tax Planning Check-Up

From: www.marinerwealthadvisors.com

Keep your tax planning on track

Tax planning isn’t just a springtime activity. Just like going to the doctor for annual check-ups is a crucial part of maintaining your health, so too are annual check-ups for your tax planning. Your needs evolve from year to year, so the following checkpoints can help you ensure your tax planning stays on track.

HOA Fees Can Be Tax-Deductible: Expert Explains What You Can Claim Back

4th Feb, 2025

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HOA Fees Can Be Tax-Deductible: Expert Explains What You Can Claim Back

From: www.realtor.com

It’s officially tax season. Attempt to control your glee.

But seriously: Monday, Jan. 27, 2025, was the first day that the Internal Revenue Service started accepting and processing 2024 income tax returns.

The deadline to file is Tuesday, April 15, 2025, which we all know is when you’re actually going to file (join the club!)

Homeowners have a…

Deadline: 5 Tax Tactics to Embrace Before 2025

27th Nov, 2024

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Deadline: 5 Tax Tactics to Embrace Before 2025

From: rethinking65.com

Implementing these five tax-planning strategies by year end can better equip clients for the coming 2025 tax season.

With the end of 2024 less than two months away, it is time to set your clients up for a successful Tax Day 2025 by offering opportunities to take advantage of any tax savings available.

The following strategies can make an impact on tax planning goals…

The 2025 Tax Brackets Are Here. See Where You Land.

28th Oct, 2024

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The 2025 Tax Brackets Are Here. See Where You Land.

From: www.wsj.com

It will take more income to reach each higher tax bracket after the roughly 2.8% inflation adjustment

The brackets that determine how much Americans pay in taxes each year are moving up by their smallest amount in a few years.

It will take more income to reach each higher tax bracket after the roughly 2.8% inflation adjustment for 2025, the Internal…

Tax Effects: Parents Selling their Home to their Child

8th Oct, 2024

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REAL ESTATE MATTERS: Parents worry about tax burden of selling property to child

The reasons for transferring ownership to children vary.

Q: I have lived in my parents’ house for the past 19 years. I’ve been paying rent the entire time. They want to sell it to me for less than the market value but are afraid of the huge capital gains taxes. The home was purchased 19 years ago for $120,000 and the home has…

What Is a W-9 Form? Here’s When You Need To Fill One Out

2nd Oct, 2024

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By Daria Uhlig

Here’s what you need to know about the W-9 form, one of the most common tax forms.

What Is a W-9 Tax Form?

Form W-9 is the Request for Taxpayer Identification Number and Certification form. If a payer must file an information return to the IRS to report payments made to or by you, they’ll likely ask you to complete the form.

What Is a W-9 Tax Form Used For?

A W-9 form provides the information…

Here’s Top Tax Planning Strategies for Your Business in Q4

30th Sep, 2024

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Here’s Top Tax Planning Strategies for Your Business in Q4

From: shahaccountingcpa.com

As the fourth quarter approaches, it’s the perfect time to review your business’s financials and ensure you’re taking advantage of the best tax strategies available before the year closes. Whether your goal is to lower your tax burden, increase profitability, or simply avoid surprises come tax season, here are some key tax planning strategies to consider:

1. Maximize Section 179…

9 New Tax Projections for Retirement Planning in 2025

17th Sep, 2024

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9 New Tax Projections for Retirement Planning in 2025

From: www.thinkadvisor.com

Every year, many numbers in the Internal Revenue Code are adjusted for inflation, ranging from the amount of the standard deduction to key limits for annual contributions to tax-advantaged retirement accounts.

Generally, the IRS sets its formal adjustments in mid-October, but there is now enough inflation data available to make relatively reliable projections for 2025 possible — and that is exactly…

Tax Explained to Kids

10th Jun, 2024

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Tax Explained to Kids

From: www.linkedin.com (Nicolas Boucher)

Do you know these 10 types of tax?

Here are the most simplified explanations to make you understand them:

1. Income Tax
If you earn $10 from selling lemonade and have to give $2 to your parents because they helped you set up the stand.

➡️ Companies make money, and they have to give a part of it to the government

2. Deferred Tax
You earn money today, but…