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 | Oct 23, 2023 | Planning
Large retirement account balances can cause tax problems Putting off distributions and holding assets in your retirement accounts as long as possible may seem like a good idea, but waiting too long can cause a major tax problem. When you reach age 73, the trigger...
by Christina Minton | Oct 2, 2023 | Planning
While most income received from your employer quickly ends up on a W-2 tax form at the end of the year, here are some common employee benefits that often avoid the impact of Federal taxes. Health benefits. While now reported on W-2’s, employer provided health...
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 | Jul 3, 2023 | Planning
Know someone getting married? Send them this tip now. If you recently got married, plan to get married, or know someone taking the matrimonial plunge, here are some important tax tips every new bride and groom should know. Notify Social Security. Notify the Social...
