Tax season should be about reclaiming your hard-earned money, not dealing with identity theft. Learn to recognize the red flags and take immediate action to secure your financial well-being.
Tax Tips for Small Business Owners! Maximize your deductions and minimize your tax liability with our comprehensive guide. Learn how effective tax planning can boost your bottom line and keep your business thriving.
The IRS defines a real estate professional with strict criteria, and understanding these qualifications can lead to significant tax benefits. Achieving this status requires diligence but can significantly impact your financial landscape. Learn more about how you can benefit!
Adoption is a beautiful journey, but it can also be financially demanding. To help, the U.S. government offers an adoption credit, designed to offset costs like adoption fees, court costs, attorney fees, and more.
The Kiddie Tax applies higher rates to unearned income of certain children under 19, or under 24 for full-time students. Learn how to navigate these rules, maximize tax benefits, and plan effectively for your family’s financial future.
The TCJA of 2017 introduced the requirement to amortize R&D expenses, impacting cash flow and financial planning for many businesses. This change increases the short-term tax burden and complicates tax planning, potentially discouraging investment in crucial R&D activities. As bipartisan efforts aim to repeal this requirement, businesses are left navigating uncertainty. Learn more about how these changes could impact your business and the potential relief on the horizon.
Unlock the hidden power of Health Savings Accounts (HSAs)! Discover how this underutilized tool can supercharge your retirement savings with unique tax advantages. Learn who qualifies, the triple tax benefits, and how HSAs can serve as a supplemental retirement plan. Maximize your savings and plan for a healthier, wealthier future!
While most pet expenses aren’t tax-deductible, there are some exceptions for service animals, guard dogs, fostering, and professional breeders.
Chief Investment Officer Troy Harmon, CFA, CVA, along with Senior Associate Logan Daniel, CFP®, CRPC®, and Tax Manager Jessie Thomas, CPA, from Henssler CPAs & Advisers, offer valuable tax advice for a couple with a disabled child. They share insights on what may qualify as a medical expense deduction.
Big news for college savings and retirement planning! Starting in 2024, you can roll over extra funds from a 529 plan into a Roth IRA for the same beneficiary. Compare the key features of these two tax-advantaged accounts to see which might be best for your family’s future.
