I recently had an eye-opening experience returning from a quick weekend getaway with Tina. The Wi-Fi was not working during our flight back, and I rediscovered an old game I hadn’t played in several decades. (the book I had with me was completed on the previous flight) Solitaire Boredom solved! I struggled to recall the…
Client – “I owe $15,000 in Income Tax!! Should I use my credit card to pay the tax?” Savvy CPA Says………Maybe With the April 15 deadline, you may wonder if charging your taxes to a rewards credit card to earn cash back or points toward travel is worth it. Yes, you can use your Credit Card to…
Are you a first-time investor and/or a new business owner? Have you circled March 15, 2024, on your calendar? That’s the deadline for filing your business tax return if you’re running an S Corporation or Partnership. You might be used to the April 15th deadline for personal taxes, but this one’s different, and it’s crucial…
First, let’s clear up the misconception about a ROTH 401(k) Contribution. NO MATTER HOW MUCH MONEY YOU MAKE, YOU CAN CONTRIBUTE TO A ROTH 401(k) in your employer-sponsored plan (assuming they offer the choice). I get asked repeatedly why I would want to pay taxes on my 401(K) or other employer-sponsored retirement contributions now. The…
We have a “knowledge gap” between what people understand about their income tax compliance situation and what their CPA has to do with your tax compliance situation. These are things that will increase your tax return price. Understanding the K-1: “It’s Truly a Maze of Information” Partnership and S-Corporation K-1s factor into this pricing. Think…
Dear Professionals and Business Owners, Income taxes often represent the most significant expense for families and businesses, and unfortunately, many taxpayers do not receive adequate tax advice on how to reduce their tax bills. As a result, they leave thousands of dollars on the table each year. But what if I told you that you…