Planning Pension Distributions
If you are able to plan your pension withdrawals, you can save considerable tax dollars. Read all about it in this Tax Tip.
Tax Savings Using Cost Segregation
In order to claim substantial reductions in current income tax liabilities and possibly increase cash flow, an investor must first begin by properly classifying investments in a building between real and personal property. Cost segregation allows a taxpayer to separately depreciate components of a building over a shortened depreciation period. For more information on cost segregation and to determine if a study will benefit you, read this C.P.A. Insight.
What's Best…Tax-free or Taxable Interest Income?
In general, tax-free bonds are likely to be more attractive to taxpayers in higher brackets, but are they right for you? Read all about it in this week’s Tax Tip.
Tax Tip: Georgia Credits and Deductions
Dan DiLuzio, C.P.A., an Accounting Manager with Henssler Financial, discusses some of the credits and deductions available to residents of Georgia. The Georgia Driver Education Tax Credit, contributions to Georgia’s Path2College 529 plan, and the Georgia Student Scholarship Organization Tax Credit are all opportunities for taxpayers to lower their tax liability.
Selling Your Home
If you’ve sold your home this year, you may be able to exclude up to $250,000 of home sale capital gain. Read more in this Tax Tip.
Year-End Tax Planning for Businesses
Businesses have some hefty tax breaks expiring at year-end. Luckily, there is still time to take advantage of them. Read all about them in this Tax Tip.
Make the Most of Your Deductions
To make the most of your Tax Deductions, it may be beneficial to itemize deductions on your tax return. Learn all about it in this Tax Tip.
Don’t Overlook the Portability of a Deceased Spouse’s Unused Estate Tax Exemption
The portability of a deceased spouse’s unused estate tax exemption can greatly affect a surviving spouse’s estate taxes. Read all about it in this Tax Tip.
Take Advantage of Your Employer's Tax-Advantaged Benefits
Your employers may be providing a number of tax-advantaged benefits that you should take advantage of. Learn what they are in this Tax Tip.
Partnership Income or Loss
In a partnership business entity, items of income, loss, deduction, and credit pass through to the partners. Read more in this Business Tip.