What is Innocent Spouse Relief?

January 1, 2025 | 0 views

The word “innocent” in innocent spouse relief can be misleading. It doesn’t imply you’re perfect or blameless – it’s more about whether you knew or should have known about the tax issue. The IRS defines “innocence” in a specific way,...

Continue Reading

Tax Planning 2024

December 1, 2024 | 0 views

Personal Income Tax Planning Strategies for Year-End 2024As 2024 draws to a close, it’s the perfect time to review your personal income tax situation and implement strategies to minimize your tax liability for the year. Proactive year-end tax planning can...

Continue Reading

2025 Federal Income Tax Brackets

November 1, 2024 | 0 views

According to estimates, inflation adjustments to the Internal Revenue Code are expected to yield increases of 2.8 percent compared to 2024 amounts. This means wider tax brackets and increased exemptions, among other things. With the U.S. Bureau of Labor Statistics...

Continue Reading

The New Era of “No Tax” Policies: Selective Tax Exemptions and Their Side Effects

October 1, 2024 | 0 views

Former President and current candidate Donald Trump introduced a new policy of his in a recent Arizona rally: No more income tax on overtime pay. This follows both Trump and Vice President Harris’ proposal for a no income tax on...

Continue Reading

Important Update on New Company Reporting Laws CTA – BOI

September 1, 2024 | 0 views

On Jan. 1, 2024, the U.S. government debuted the Corporate Transparency Act (CTA). This legislation established the requirement for the majority of private companies, both big and small, to file information with the Financial Crimes Enforcement Network (FinCEN).As with most...

Continue Reading