Getting Married and Related Tax Issues
If you postponed your “I Do’s” in 2020, and are recently married in 2021, here is a checklist of “to do’s” to help you make some important tax decisions.
New Global Tax Accord Takes Shape
132 countries that represent more than 90% of worldwide gross domestic product recently agreed to reform international tax laws to “ensure that multinational enterprises pay a fair share of tax wherever they operate.”
Roth IRA Conversion Seems Straightforward, but Devil is in the Details
Managing Associate D.J. Barker, CWS®, and Associate Michael Griffin, CFP®, joined by Chief Investment Officer Troy Harmon, CFA, CVA, examine the situation of a senior investor who wants to manage future taxes on her investments by converting a portion of her retirement funds to a Roth IRA.
35 Million: The Total Backlog of Tax Returns The IRS Had At The End Of Tax Season
Still waiting on your federal tax refund from the IRS? You’re not alone. The agency is facing a backlog of 35 million returns.
Tax Rules for Home Flippers
Are you contemplating trying your hand at flipping? If so, keep in mind that you will have a silent partner, Uncle Sam, who will be waiting to take his share of any profits in taxes.
Sole Proprietorships – Don’t Overlook the Liability Issues
If you are considering starting a business, the simplest and least expensive form of business is a sole proprietorship. However, sole proprietors are 100% personally liable for all business debts and legal claims. Here is what you need to know.
Relocating? How to Do It with Taxes in Mind
Now that you’re working remotely, are you considering moving to a state with no state income tax? Before you do, do your homework.
The IRS is Resuming Collection & Enforcement Activities That Were Paused During COVID-19
Do you have a balance due with the IRS? It’s time to pay up. The IRS is resuming “certain collection and enforcement processes that had been suspended because of the coronavirus pandemic.”
2021: The Year of Substantial Tax Breaks for Families with Children and Lower-Income Taxpayers
The American Rescue Plan Act included several tax benefits that will impact families with children and lower-income taxpayers during 2021, including increased childcare benefits, an increased child tax credit, as well as advanced monthly payments for some.
During Your Summer Travel, Don’t Forget to Visit Your CPA
Despite the IRS pushing back the 2020 tax return deadline to May 17 this year, many taxpayers still filed for an automatic extension until October 15. Reasons for an extension vary and include needing extra time with your CPA to thoroughly review your options and strategies, time to gather K-1s or corrected 1099 forms, or…