Managing Associate K.C. Smith, CFP®, CEPA, and Research Analyst Nick Antonucci, CVA, CEPA, join Chief Investment Officer Troy Harmon, CFA, CVA, to address a couple’s concerns about taking Social Security benefits knowing they will likely be taxed on their benefits.
With the end of the tax year just around the corner, tax-savvy individuals need to take some time from their busy schedules to review the tax planning steps they’ve already taken and see what else they need to do.
If you are fortunate to have a large estate, you can make gifts without reducing your lifetime exclusion, including an annual gift exclusion and paying for medical or educational expense directly to the provider.
While you may have holiday music on and customers are swept up in a holiday rush, as a business owner, you have some important deadlines to meet before the end of the year.
Our tax system is set up to “pay-as-you-earn,” but there are situations where taxpayers can get into trouble and face underpayment penalties. We explain how to avoid these situations in this week’s Tax Tip.
It’s easy to go out to lunch with a client and forget to save the receipt, which means your books won’t be accurate. QuickBooks Online provides two ways to enter expenses: record on the site itself, or you can snap a photo with your phone using the QuickBooks Online mobile app.
It can be difficult to understand the basic lingo and acronyms used by tax professionals; however, to grasp what they are saying you need to be familiar with the basic terminologies used in taxation.
Has your business solved technological challenges, invested in software development, or re-engineered manufacturing processes? Your business may be eligible for the federal research and development tax credit.
In 2020, seniors got a reprieve, but Required Minimum distributions have resumed for 2021. Don’t forget to take the withdrawal before the end of the year or face draconian penalties!
Chief Investment Officer Troy Harmon, CFA, CVA, Managing Associate D.J. Barker, CWS®, and Senior Financial Planner Giuliana Barbagelata, CFP®, take a closer look at donor-advised funds and family foundations for significant charitable giving. They compare the two in terms of ongoing fees, donor control, and tax benefits.
