Personal Income Tax Archives | Crabb Tax Services https://crabbtaxservices.com Experience, Integrity & Personal Service Mon, 04 Nov 2019 23:12:04 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.2 Crabb Tax Services Newsletter (October 2019) https://crabbtaxservices.com/crabb-tax-services-newsletter-october-2019/ https://crabbtaxservices.com/crabb-tax-services-newsletter-october-2019/#respond Mon, 04 Nov 2019 06:27:22 +0000 https://crabbtaxservices.com/?p=2581 TOPICS IN THIS ISSUE: Stretch Your Retirement Savings With Multi-Year Planning IRS Audit Period is 3 Years, 6 Years Or Forever: How To Cut Your Risk Be Like A Bank. Test Yourself To See How Your Finances Would Hold Up

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]]> https://crabbtaxservices.com/crabb-tax-services-newsletter-october-2019/feed/ 0 How To Lower Your Taxes With Tax Loss Harvesting https://crabbtaxservices.com/how-to-lower-your-taxes-with-tax-loss-harvesting/ https://crabbtaxservices.com/how-to-lower-your-taxes-with-tax-loss-harvesting/#respond Wed, 30 Oct 2019 21:11:25 +0000 https://crabbtaxservices.com/?p=2571 The goal of tax-loss harvesting to lower your overall taxes. With proactive tax planning, you may be able to lower your taxable income by selling off losing investments. Similarly, you can offset some long term gains by selling investments that may have lost money over the long term.

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]]> https://crabbtaxservices.com/how-to-lower-your-taxes-with-tax-loss-harvesting/feed/ 0 12 Budgeting Tips for New Parents https://crabbtaxservices.com/12-budgeting-tips-for-new-parents/ https://crabbtaxservices.com/12-budgeting-tips-for-new-parents/#comments Tue, 29 Oct 2019 15:56:45 +0000 https://crabbtaxservices.com/?p=2566 Middle-class families spend nearly $13,000 per child every year. Learn how to budget strategically.

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]]> https://crabbtaxservices.com/12-budgeting-tips-for-new-parents/feed/ 1 4 Strategies to Cut Your Taxes in Retirement https://crabbtaxservices.com/4-strategies-to-cut-your-taxes-in-retirement/ https://crabbtaxservices.com/4-strategies-to-cut-your-taxes-in-retirement/#respond Mon, 21 Oct 2019 15:31:35 +0000 https://crabbtaxservices.com/?p=2557 To help reduce your tax burden once you retire, and free up more money for expenses and fun, give income planning a try. Here are four ways to adjust your income and get a better grip on your tax bill.

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]]> https://crabbtaxservices.com/4-strategies-to-cut-your-taxes-in-retirement/feed/ 0 IRS Announces New Payment Option for Some Delinquent Taxpayers https://crabbtaxservices.com/irs-announces-new-payment-option-for-some-delinquent-taxpayers/ https://crabbtaxservices.com/irs-announces-new-payment-option-for-some-delinquent-taxpayers/#comments Sat, 19 Oct 2019 15:14:06 +0000 https://crabbtaxservices.com/?p=2549 The Internal Revenue Service (IRS) has announced that a new payment option has been added to the private debt collection program. The payment option is intended to make it easier for those who owe to pay their tax debts, although some practitioners, like me, fear that it could lead to abuse.

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]]> https://crabbtaxservices.com/irs-announces-new-payment-option-for-some-delinquent-taxpayers/feed/ 1 IRS Audit Period Is 3 Years, 6 Years Or Forever: How To Cut Your Risk https://crabbtaxservices.com/irs-audit-period-is-3-years-6-years-or-forever-how-to-cut-your-risk/ https://crabbtaxservices.com/irs-audit-period-is-3-years-6-years-or-forever-how-to-cut-your-risk/#comments Wed, 09 Oct 2019 14:12:18 +0000 https://crabbtaxservices.com/?p=2533 It is only natural to worry about an IRS audit, and the duration of audit periods can be downright frightening. Tax lawyers and accountants are used to monitoring the duration of their clients’ audit exposure, and so should you.

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]]> https://crabbtaxservices.com/irs-audit-period-is-3-years-6-years-or-forever-how-to-cut-your-risk/feed/ 1 Crabb Tax Services Newsletter (September 2019) https://crabbtaxservices.com/crabb-tax-services-newsletter-september-2019/ https://crabbtaxservices.com/crabb-tax-services-newsletter-september-2019/#respond Wed, 02 Oct 2019 02:00:34 +0000 https://crabbtaxservices.com/?p=2517 TOPICS IN THIS ISSUE: Benefits Of Starting Your Tax Planning Early In the Year What To Do If You’re Audited By the IRS 13 Advantages Of Keeping Personal And Business Bank Accounts Separate Ins And Outs of Settling With the

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]]> https://crabbtaxservices.com/crabb-tax-services-newsletter-september-2019/feed/ 0 Ins and Outs of Settling With the IRS https://crabbtaxservices.com/ins-and-outs-of-settling-with-the-irs/ https://crabbtaxservices.com/ins-and-outs-of-settling-with-the-irs/#respond Mon, 16 Sep 2019 15:39:25 +0000 https://crabbtaxservices.com/?p=2492 It isn’t easy to settle your tax debts for less than you owe, but it is possible. Here is what taxpayers need to know Here is an idea that probably sounds like a guaranteed waste of time: Ask the Internal

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]]> https://crabbtaxservices.com/ins-and-outs-of-settling-with-the-irs/feed/ 0 13 Advantages Of Keeping Personal And Business Bank Accounts Separate https://crabbtaxservices.com/13-advantages-of-keeping-personal-and-business-bank-accounts-separate/ https://crabbtaxservices.com/13-advantages-of-keeping-personal-and-business-bank-accounts-separate/#comments Sun, 15 Sep 2019 22:11:48 +0000 https://crabbtaxservices.com/?p=2487 Mixing one's funds with the proceeds of a business is a tempting prospect. For many solopreneurs, commingling allows them to have a much simpler time when banking. However, situations may arise where mixing business funds with personal funds can lead to a complicated mess. While the actual business of banking is easier, things like account-keeping, tax reporting and separating business expenses from private earnings become a nightmare.

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]]> https://crabbtaxservices.com/13-advantages-of-keeping-personal-and-business-bank-accounts-separate/feed/ 1 What to Do If You’re Audited by the IRS https://crabbtaxservices.com/what-to-do-if-youre-audited-by-the-irs/ https://crabbtaxservices.com/what-to-do-if-youre-audited-by-the-irs/#comments Tue, 10 Sep 2019 16:14:15 +0000 https://crabbtaxservices.com/?p=2479 “Gasp!” That might be your first reaction to seeing an envelope with an eagle on the upper left corner and the dreaded words next to it: Internal Revenue Service. But fear is not an emotion that should flow through your body. Why not? Well, if you’ve accurately recorded what properly belongs on your tax return, you have nothing to fear from the IRS if they contact you about an audit.

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