Our Blog
Plan Your 2024 Retirement Contributions
As part of your planning for next year, now is the time to review funding your retirement accounts in 2024. Recent cost of living calculations means much higher contribution limits for next year. Plus the higher income phaseouts for eligibility will make many more...
Late Breaking News: New 1099-K Requirements Delayed
You will be surprised how many are impacted In the fourth move in three years, the IRS in late November changed the reporting requirements for Form 1099-K. So why should you care? Well pay attention if you’ve ever sold anything on Amazon or eBay, have ever sold...
Tax Planning Triggers
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...
Selling Property to Family Creates Tax Complications
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...
Surprise! The Mutual Fund Tax Trap
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...
Audit Proof Your 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...
Have Questions About the New Tax Laws?
Tina Minton is available to share with your business team or service organization. Her 30-minute presentation is ideal for sales meeting, lunch and learn, or other events. Please contact Brea at 757-546-2870 to schedule.
Phone
Opening Hours
Mon-Fri: 8:30am – 5:00pm
Summer Only: 8:30 am – 1:30 pm