6 Common Tax Mistakes That Can Land You in Trouble with the IRS
Some common tax mistakes are more than just a “small problem.” They could actually land you in trouble with the IRS if you’re not careful.
Our Three Cents — Don’t Sell Yourself Short
Back after a brief hiatus, Our Three Cents is back as Troy Harmon, CFA, CVA, Nick Antonucci, CVA, CEPA, and K.C. Smith, CFP®, CEPA of Henssler Financial are joined by Tax Partner John Dickson, CPA, CFP®, CVA, of Henssler CPAs & Advisers to discuss business owners who are trying to minimize taxes by running as many expenses as possible through their business.
You May Be Able to Minimize the Tax on Your Social Security Benefits and the Cost of Your Medicare Benefits
The taxability of your Social Security benefits depends on several issues including filing status and income. Additionally, the amount that is withheld from your Social Security benefits to pay for your Medicare premiums is similarly determined.
Congress Tells Treasury to Expect SECURE 2.0 Technical Fixes
With nearly 100 provisions covering all types of retirement savings plans, the SECURE 2.0 Act actually had a few glitches. Congress has announced they will introduce legislation to correct “problematic language.”
Tax Tips for Students with a Summer Job
Many students hold a summer job during their time off from school. Here are some tax issues that should be considered when working a summer job.
Business Growth: How to Plan for (and Make the Most of) This Critical Stage
In between the start-up phase and a mature business is the growth phase that provides an exceptional opportunity to grow from the business you’re running into the one you hoped you’d be in charge of when you started.
From Joint Ownership to Installment Sale: How an Investor Overcame Tax Hurdles
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Tax Manager Jessie Thomas, CPA, and Managing Associate D.J. Barker, CWS®, to discuss an investor who wants to sell her late mother’s house in an installment sale to control capital gains. The experts look at the benefits of such an arrangement and how this would affect her financial plan.
SECURE 2.0 Act Expands Early Withdrawal Exceptions
While 401(k) plans and IRAs are intended to promote long-term retirement savings, sometimes the situation is dire enough to consider an early withdrawal. We look at new penalty-free exceptions created by the SECURE Act 2.0.
Tax Consequences of Crowdfunding
Between sites like GoFundMe, Kickstarter, and Indiegogo. each has its own charges, limitations, and withdrawal processes. Furthermore, both the IRS and the SEC are closely watching the taxability of the money raised.
Financial Planning and Giving: Unlocking the Potential of an Unexpected Windfall
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Senior Associate Michael Griffin, CFP®, and Associate Peter Lynch to discuss an investor who wants to direct her significant inheritance to charity by creating a lasting legacy.