by Christina Minton | Nov 27, 2023 | Miscellaneous
When to know to conduct a tax review Here are some tips that should trigger you to conduct a full tax planning session to ensure your tax bill next year is not higher than it needs to be. 1. You owed tax last year. If you have not adjusted your withholdings, you could...
by Christina Minton | Nov 20, 2023 | Planning
Selling property to a family member or loved one is deemed a related party transaction by the IRS. If contemplating a transaction like this, you need to review the tax consequences of your decision BEFORE you act. As you might imagine, related party transactions...
by Christina Minton | Nov 13, 2023 | Planning
Too often taxpayers receive tax surprises at year-end due to actions taken by mutual funds they own. What can add insult to injury is the unsuspecting taxpayer who recently purchases the shares in a mutual fund only to be taxed on their recent investment. How does...
by Christina Minton | Nov 6, 2023 | Deductions
Your best audit defense The IRS is being very public about increasing the review of tax returns. The best defense for you is to be prepared before it happens. Here are some suggestions: The one-two punch To prove your deduction, most auditors look for two key...
by Christina Minton | Oct 30, 2023 | Your Income
Everybody likes getting something for free, and taxes are no different. If you invest in securities such as municipal bonds (munis) or municipal bond funds, you can generate tax-free interest income. Here is what you need to know. Advantages of municipal bonds You pay...
