Tax Planning for Divorce When caught up in the moment tax planning for divorce is probably the last thing on your mind. However, it is important not to ignore it as a divorce can have severe consequences on your taxes. In this article, we will go over the basics of tax planning for divorce. [...]
Windfall Tax Planning Strategies Receiving a bonus, inheritance, lottery winnings, or any other type of unsuspected windfall can lead to serious tax consequences. You may find yourself in a higher tax bracket, subject to paying Alternative Minimum Tax or disqualified from tax credits or deductions. In this article, we will go over windfall tax [...]
5 Things to do After You File Your Tax Return By thinking ahead, you can get your finances in order now so that you can have an easier time when tax season is here again. Even though you may not want to think about taxes during the offseason, taking a little time now will save [...]
Retirement Income Taxation Retirement income taxation is something that many overlook when planning for retirement. But it is a very important subject that you should not forget about, as it can make a big difference in what you have left to live on. In this article, we will go over the taxation of several [...]
2018 Business Tax Changes The Tax Cuts and Jobs Act, which became law in December of 2017, cause a major overhaul of previous tax law. This change affects both business and personal taxes. In this article, we will go over 4 of the biggest 2018 business tax changes. 1. Corporate Tax Rates In previous [...]
Completing Form W9 If you receive a Form W9 you may be wondering why you got it and what to do with it. If you feel overwhelmed by tax forms, this article can help you. We will go over the purpose of a Form W9 and a step-by-step process of how to fill it out. [...]
Tax Changes for 2018 The passing of the new tax law has many people worried as tax season quickly approaches. You can rest assured, these changes will not show on this year’s tax returns, they will affect your taxes you file in 2019. However, you should be aware of the 2018 tax changes since [...]
Capital Gains Tax - What Is It? When you sell an asset for a profit, the difference between what you buy it for and what you sell it for is a capital gain. You earn this type of gain on such property as homes, stocks, bonds, and collectibles such as art. Capital gains from [...]
1031 Exchange If you are a real estate investor or own any type of real estate that produces income for you, you should be familiar with a 1031 exchange. If you are not familiar with it or are just starting out in real estate investments, it can be beneficial to read up on something [...]
Taxation of Your Side Job The opportunities to make money on the side seem endless. You may use an app like Uber, Lyft or Airbnb or you run your own business on the side. Whatever you do, it is important that you understand the taxation of your side job. Not preparing and having a [...]
