Tax Strategies
No one can fully escape taxes, but you do have some say in when you pay them. Different types of retirement income are taxed at different times. Orchestrating these sources in retirement can take some work, as the rules for each differ. Under the umbrella of tax-advantaged income sources, there are those that require taxes […]
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They say there’s no such thing as a free lunch, but what about a tax-deductible lunch? While many of your income sources can be taxed, there are strategies to help minimize your overall tax burden before and in retirement. An advantage of going to one professional for all of your financial planning needs is that […]
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We’ve entered a full year of living with the pandemic, and there have been several events during the year that could affect you this tax season. In April 2020, the CARES Act (Coronavirus aid, Relief, and Economic Security Aid) provided relief to individual Americans and businesses and temporarily altered some parts of the tax code. […]
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Will your tax burden dramatically decrease in retirement once you stop receiving a paycheck? Maybe not – maybe it will increase. Between retirement account distributions, Social Security benefits, and investments, you may have reasons to review your tax strategy in retirement. We may be experiencing relatively low taxes right now, but the recent change in […]
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Generally, accountants have a good work-life balance, but they’re notoriously busy during tax season. From January to April, their workload increases significantly, and they must come up with new techniques to manage their time. Sometimes when we’re used to a routine, extra work or activity can throw us off because we don’t know how to […]
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