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.Read more →
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.Read more →
Is it crazy to compare yourself to a large financial institution? No. You both have a key thing in common: assets.The only real difference is that many more people depend on a big bank than on you.Read more →
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.Read more →
The years approaching retirement are rich with opportunities for those who can carefully fill their income “buckets” to just the right level.Read more →
Once you retire, it’s helpful to keep several tax opportunities and tax consequences in mind.
Retirement may mean that you’ve stopped working, but it doesn’t mean that you’re finished with worrying about taxes.
Most individuals begin tax planning when the due date for filing income tax return is around the corner. However, it is prudent to start your tax planning earlier as it gives you more time to make a good estimate of your income and gains.Read more →
TOPICS IN THIS ISSUE: Optimizing Residential Real Estate Deductions Tax Court Approves IRS Denial of Installment Plan Request The Marriage Tax Penalty, Post-TCJA 3 Great New Tax Videos! IRS TAX TIP: Here’s What Taxpayers Should Know Before Visiting an IRSRead more →