by Christina Minton | Sep 11, 2023 | Planning
Now is the time to make your estimated tax payment If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The third quarter due date is now here. Due date: Friday, Sept. 15, 2023...
by Christina Minton | Sep 4, 2023 | Your Income
Not all income is the same in the eyes of the tax code The tax code uses jargon that can be confusing for the unwary. One of them that impacts most of us is the term unearned income. Unearned income is often defined as anything that is not earned income. If you find...
by Christina Minton | Aug 28, 2023 | Retirement
If you contribute too much money into your IRA during the year, how do you correct the problem without facing a tax penalty? Here are some tips. Remember the annual limits 2023 Annual IRA contribution limits $6,500 per individual $7,500 per individual if age 50 or...
by Christina Minton | Aug 21, 2023 | Miscellaneous
What to do if you miss a quarterly estimated tax payment Many clients like to keep their Federal Tax withholdings as low as possible to avoid the IRS having their funds interest-free throughout the year. Other taxpayers, especially those with non-payroll income, must...
by Christina Minton | Aug 14, 2023 | Your Income
What everyone should know When you win a prize, there are really two winners: you and the taxing authorities. Should you be fortunate enough to win that trip of a lifetime to the French Riviera in your new yacht, here is what you need to know. Prizes and taxes Prizes...
