What does your CPA need from you? The following is a list of general information that should be gathered for your income tax returns. Tax Information Needed Individual income tax returns: If...
© 2023 Individual taxpayers are potentially liable for the net investment income tax (NIIT) if their modified adjusted gross income (MAGI) exceeds $200,000 ($250,000 for joint filers and qualifying widows or...
© 2023 Private foundations can be highly effective for people who want to leave a charitable legacy, but they’re expensive to set up and operate. Donor-advised funds are popular alternatives, but...
© 2023 Tax credits are far more valuable than tax deductions. Unlike a deduction, which reduces a business’s taxable income, a credit reduces the business’s tax liability dollar for dollar. Tax...
© 2023 Life insurance can provide peace of mind, but if your estate will be large enough that estate taxes will be a concern, it’s important to not own the policy...
© 2023 When a parent enters a nursing home, taxes are probably the last thing on anyone’s mind. But it’s important to know that several tax breaks may be available to...
© 2023 Businesses may be familiar with the rule that permits them to deduct employee bonuses this year if they pay them to employees within 2½ months after the end of...
View the 2023-24 Tax Planning Web Guide Navigating the ever-evolving landscape of tax law is essential for maximizing available benefits. To take advantage of all available breaks, you must first be...