Inheritances Enjoy a Special Tax Benefit
If you sell an asset you purchased, you will likely have to pay taxes on the gain. However, if you sell an asset you inherited, any gain may receive a beneficial tax treatment.
Splurge or Save? Making the Most of Your Income Tax Refund
Are you finally buying that thing you’ve always wanted or are you taking your tax return windfall and investing it for your future? Consider your other choices before splurging on more stuff.
IRS Letter 6475—Your Third Stimulus Payment
IRS Letter 6475 gives you the total amount of money received in 2021 stimulus payments. Do not throw this letter away. This letter will help tax preparers quickly and accurately reconcile the Recovery Rebate Credit when preparing your tax returns.
The Triple Tax Benefit of Health Savings Accounts
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Managing Associate Shawna L. Theriault, CFP®, CPA, CDFA®, and Associate Peter Lynch to cover the triple tax benefit investors can achieve using Health Savings Accounts (HSAs).
Tax Season: IRA or HSA Contributions
If you’re unhappy with how your income tax return is shaping up this season, if you qualify, you can still make a deductible IRA contribution or Health Savings Account contribution for the 2021 tax year.
Tax Benefits for Child Daycare Providers and Users
Special tax benefits are available for those providing daycare services for children and the parents who pay for those services. We take a look at the various tax deductions daycare providers may use and the childcare tax credit that the parents may claim.
Charitable Tax Deduction Peculiarities
Charitable contributions are not always cash donations. They can take many forms. We look at the issues a taxpayer may encounter related to non-cash contributions.
Tax Season: Three Things to Watch for on Your Tax Return
John Dickson, CPA, CFP®, CVA, from Henssler CPAs & Advisers, highlights three situations that you need to pay attention to when calculating your 2021 income tax return.
Tax Season: The Most Wonderful Time of the Year
John Dickson, CPA, CFP®, CVA, from Henssler CPAs & Advisers, reminds you of the 2021 tax filing season deadlines and answers taxpayers’ most frequently asked question.
Does a Tax Deduction and a Tax Credit Result in the Same Tax Benefit?
Taxpayers sometimes think “tax deductions” and “tax credits” are the same. While they both help lower your tax liability, there’s a distinct difference between them. We explain!