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!
3 Tips to Help Ease the Burden of Tax Season
The IRS issued more than 125 million individual income tax refunds in 2020; the average amount was nearly $2,600. We cover 3 tips to make your tax season easier.
Another Rough Tax Season for IRS and Taxpayers?
This could be another rough tax season for the IRS and taxpayers because many returns still require manual review, resulting in significant delays in the IRS issuing refunds.
Cost Basis: Simple Definition, Complicated Calculations
Chief Investment Officer Troy Harmon, CFA, CVA, joined by Senior Financial Planner Josh Weidie, CWS®, team up to cover a listeners’ situation involving cost basis of her stocks and why it is important to track the cost basis of your investments.
The IRS is Accepting Returns, but Make Sure You Have all Your Forms
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Senior Associate Michael Griffin, CFP®, and Tax Manager Jessie Thomas, CPA, from Henssler CPAs & Advisers to provide some critical information about the upcoming tax season, as 2021 income tax returns are due April 18.
2022 Annual Limits Relating to Financial Planning
Need to know the contribution limits for the various retirement accounts? We have your answers. Download our 2022 Annual Limits Relating to Financial Planning quick reference sheet.
Why Tax Basis Is So Important
The basis of an asset is very important because it’s used to calculate deductions for depreciation, casualties, and depletion, as well as gains or losses on the disposition of that asset. We explain in this week’s Tax Tip.