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Tax

TAX PREPARATION

Did you know that every 4 out 5 tax returns contain errors, and those errors may be causing you to overpay on your income taxes.

TAX PLANNING

Our clients receive proactive advice on tax reduction strategies based on income, expenses, individual needs, and goals.

BOOKKEEPING/PAYROLL

Running a business is already a time consuming and overwhelming feat. Don’t allow your bookkeeping and payroll obligations distract you from what you are good at…

2003, 2024

10 Tax Filing Mistakes

By |2024-03-19T16:58:32-07:00March 20th, 2024|Tax|

10 Tax Filing Mistakes Tax filing mistakes can cost you money. Whether that is missing out on a large refund or owing more in taxes. There are 10 tax filing mistakes we will review so you can avoid them when completing your taxes. 1. Basic Mistakes Many mistakes are simple. For example, misspelling names or entering social security numbers incorrectly. It also includes choosing the incorrect filing status. 2. Fail to Enter Information as It [...]

2102, 2024

Earned Income Tax Credit

By |2024-02-21T12:45:46-07:00February 21st, 2024|Tax|

Earned Income Tax Credit The earned income tax credit is a refundable tax credit for low to moderate income families. In this article, we will go over the basics of the earned income tax credit. Who Can File To be able to file for the earned income tax credit, you must have made at least $1 of earned income during the year. There are maximum income requirements based on the number of children you [...]

1001, 2024

Filing Taxes for a Family

By |2024-01-10T13:51:29-07:00January 10th, 2024|Tax|

Filing Taxes for a Family Filing taxes for a family can be complex. There are many variables that need to be taken into consideration. In this article, we will go over some of the variables involved when filing taxes for a family. Filing Status You have five filing statuses to choose from. Which one you choose will impact how much you owe or the size of the refund you receive. If also will determine [...]

1312, 2023

Home Sales and Taxation

By |2023-12-13T11:07:07-07:00December 13th, 2023|Tax|

Home Sales and Taxation Home sales and taxation go hand in hand. Fortunately, there are ways to reduce capital gains on your home sale and reduce taxes. In this article, we will go over secrets to home sales and taxation. Exclusions Under the Taxpayer Relief Act of 1997 there are exclusions that help reduce capital gains from home sales. You can exclude up to $250,000 if you are single or $500,000 if you are [...]

2710, 2023

6 Taxes Retirees Faces

By |2023-10-26T12:29:53-07:00October 27th, 2023|Tax|

6 Taxes Retirees Face As you age, you need to factor in tax planning. There are forms of taxes you will face in retirement that you did not previously have to worry about. In this article, we will go over 7 taxes retirees face. 1. Social Security Taxes If you are still receiving income while taking social security benefits, you could be subject to social security taxes. If you are single and have income [...]

2709, 2023

Annuity Taxation

By |2023-09-25T15:57:13-07:00September 27th, 2023|Tax|

Annuity Taxation Annuity taxation will depend on what type of money you used to fund the annuity, pre-tax or post-tax. This is known as qualified or non-qualified. In this article, we will go over how both types of annuities are taxed. Qualified Qualified means that the annuity has been funded with pre-tax money. These annuities are subject to taxes and Required Minimum Distributions. RMDs are payouts you must begin taking within the year you [...]

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