Efficient Solutions

As year-end approaches it's important to understand the transaction trends within your mutual funds. Taxable dividends and distributions from mutual funds can bring surprising additional taxes.

Surprise! The Mutual Fund Tax Trap Year end moves by mutual fund managers often cause tax obligations for their fund owners. These surprises come in the way of 1099 DIV and 1099 B tax forms. Here are some ideas to help manage the problem.

IRS audits are about to become more common place. Your best defense, be prepared. Here are some great ideas.

Audit Proof Your Deductions - Your best audit defense Taking valid deductions on your tax return is your right. Defending your deductions is going to be more common place as the IRS hires more staff. Here are some tips.

There's still time to lower your tax bill this year. But you need to act now! Find out more here.

Client Update Newsletter: November 2023 This month's newsletter outlines Social Security’s cost-of-living adjustment for 2024, plus some basic information on how Social Security works. And there is still time to take action to reduce this year's tax bill. Please review the tax planning articles to bring some ideas top of mind for yo...

Do you know the benefits of municipal bonds? Here is what you should know.

Time to Reconsider Municipal Bonds With the rise in interest rates, it is time once again to consider investment alternatives versus parking your money in a low interest savings account or in higher risk stocks. Here is a summary of the tax benefits of municipal bonds.

Consider withdrawing money from tax-deferred retirement accounts as soon as you turn 59 to reduce future tax risk on your Social Security benefits.

Tax Efficient Retirement Requires Planning - Large retirement account balances can cause tax problems A big surprise can occur when you see your Social Security Retirement Benefits being subject to income tax. This additional tax is often triggered by Retirement Account distributions. Are you prepared for this?

$8,400 more of your income is subject to Social Security taxes in 2024. Here are the details.

Hike in Social Security Benefits Announced for 2024 - How much you pay and checks received are all going up! 2024 Cost-of-Living Adjustment (COLA) changes are here. This is what you need to know.

You can start receiving Social Security benefits when you turn 62, but you can give yourself a raise of 8% per year if you put it off.

How to Maximize Your Social Security - What every taxpayer should know When you decide to start taking your Social Security Benefit can have a big impact on the monthly amount you receive. Plan now to maximize your payments.

The IRS is NOT always right. Here are tips to help defend yourself in an audit. Plus great tips from recent tax court cases!

Client Update Newsletter: October 2023 Powerful. Always right. Intimidating. These are some of the descriptions used to describe our nation's tax collection agency, the IRS. But believe it or not, the IRS is wrong more often than you think. In this month's newsletter, read about several recent tax court cases, including one where the IRS...

Take advantage of all tax-free ideas. Many of them come from your employer. Here are a few to consider.

Employee Tax-Free Income Not everything is taxed. This is especially true of many employee benefits. Here is what you should know.

Here's an area of the tax code that surprises many with a larger tax bill.

Understanding Tax Terms: Depreciation Recapture Too many taxpayers using a home office or having rental property are surprised by their tax bill when they sell their property. A little understood area of the tax code called depreciation recapture is often the culprit.

Did you know that business meals are deductible but business entertainment isn't? Make sure you keep a detailed expense log distinguishing the two.

Deduct Business Meals the Right Way If you own your own business, are self-employed or run a side business, can you deduct the cost of client meals? The answer is not so clear after the passage of the Tax Cuts and Jobs Act. Here are some tips to stay on the right side of the new rules.

Reminder: 3Q estimated taxes are due Friday, September 15. Here are some things to consider.

Reminder: Third Quarter Estimated Taxes Due - Now is the time to make your estimated tax payment If you have not already done so, please plan to make your third quarter estimated tax payment. The due date is Friday, September 15th.