The saying “The only things certain in life are death and taxes” holds true, but individuals can exercise control over their financial destinies by adopting smart financial decisions for optimal tax outcomes. Year-round tax planning offers a proactive approach, allowing individuals to make informed choices that can lead to significant savings during tax season. Seeking […]
Tax laws constantly change, from year to year. We now have the child tax credit to work with, plus the standard life changes that have always affected your taxes. Life changes could affect your taxes for the better – or worse, depending on your situation. You may have to make changes to certain documents to […]
While options to accelerate deductions and defer income become more limited after Dec. 31, you can still take advantage of a few to help lower the previous year’s taxes. You can still save more money and avoid some penalties with these tax tips. Start getting documents ready in January if you do not plan on […]
Before you turn your taxes over to tax attorneys, know what your filing status is. You could claim several ways, depending on your situation. The choices you have are single, head of household, married, or married filing separately. The method you choose affects the deductions you might claim and the alternative minimum tax. For 2021, […]
Whether you are doing great or recovering from losses, tax planning for the end of the year can save you a lot of money on your taxes, regardless of your financial position. Your business tax attorney or personal tax attorney cannot help you take advantage of these savings unless you take these actions before the […]
Creating an estate plan, including a will, can help save your family a lot of heartaches should something happen to you. However, when you retain an estate planning attorney to help you create your estate plan, you can significantly minimize these errors. However, an attorney can only go by the information you tell her. If […]
Often, people wait until the last minute to file taxes. In some cases, they might not file taxes for a year or two. However, the Internal Revenue Service wants its money and charges two penalties for unfiled taxes: one for not filing on time and the other for not paying on time. Instead of getting […]
Students and others filing taxes for the first time might be confused about where to start. The first thing you need to check is whether your parents can still claim you on their taxes. You cannot file your own taxes if your parents are going to claim you. You should discuss whether you should file […]
While Florida is one of the best states to own a business in, it’s unfortunately not one that is easy to protect assets from creditors. Florida trust law is a complicated area best left to an estate planning attorney, especially if you want to use a trust for asset protection. A wills and estate lawyer […]
Most businesses have to pay quarterly taxes, including sole proprietors, S corporation shareholders, partnerships and individuals. If you expect to make over $1,000 each quarter, you must pay up-front taxes to avoid paying a tax penalty at the end of the year. Staying organized makes paying quarterly business taxes less stressful and quickens the process.
Make […]
