Running a business requires strategic legal and financial decisions that benefit you and your family for the long term. That includes ensuring the company doesn’t lose money, whether from poor inventory or service decisions, and tax planning. In many cases, people wait until the last minute to file their taxes. However, you miss out on […]
Giving to charity not only benefits the charities but can also benefit the donor because of valuable tax incentives. To fully maximize the tax deductions, you – or your tax planning attorney – must understand the intricacies and strategies of charitable giving and tax law and how they apply to your unique financial situation. The […]
Each year sees changes to the tax code. Those changes usually affect nearly everyone. In 2023, tax changes in the Inflation Reduction Act came into effect, including an increase in per-barrel oil taxes and changes to the standard deduction and Alternative Minimum Tax Rate. Keeping up with the tax changes ensures you file your taxes […]
The saying “The only things certain in life are death and taxes” holds true, but individuals can exercise control over their financial destinies by adopting smart financial decisions for optimal tax outcomes. Year-round tax planning offers a proactive approach, allowing individuals to make informed choices that can lead to significant savings during tax season. Seeking […]
“Tis impossible to be sure of anything except death and taxes.” It’s a notion that’s normally attributed to Benjamin Franklin. However, the first mention of the idea is from a 1716 book by Christopher Bullock, The Cobler of Preston. Whoever said it first, it remains true; you can’t escape dealing with taxes. Whether you believe […]
Working with an experienced attorney to create a will rarely seems urgent. Few start the day thinking their time is short and then call an experienced attorney to help get your affairs in order.
Whether you are young and single, a parent or entering your twilight years, the time to make a will is now. There […]
2018 is almost up and you are probably looking forward to the holiday with lots of activities. The end of the year is very important to any business as many countries have their financial year run from January to December.
As a business, it’s important that you check if your accounting records reflect what you’ve been […]
It may seem incomprehensible but making a gift out of the kindness of your heart may leave you on the hook for taxes. The IRS expects people who transfer things of value to friends or loved ones to also pay taxes even when you receive no consideration in return.
Before dubbing the IRS the “Scrooge” of […]
We mostly grumble about having to pay the tax man. The government, reeling in debt, paying millions to other countries for aid, comes along and wants to take a chunk of our hard-earned money! What for? We might wonder. Well, there are good reasons why we should be thankful that we pay taxes, for some […]
Between interactive software programs and simplifications to the federal code, filing your taxes may be easier than it has been in decades.
If you’re an hourly or salaried employee, perhaps you can sidestep the cost of hiring professional help. But if you own a business, manage a trust or have multiple investments, filing your taxes may […]
