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Year-End Tax Saving Strategies for 2024: Navigating Uncertainty During Election Year

Year-End Tax Saving Strategies for 2024: Navigating Uncertainty During Election Year

November 05, 2024

As 2024 comes to a close, business owners are focusing on finishing the year strong. That said, since 2024 is a U.S. presidential election year, there is uncertainty around potential changes to tax laws and economic policies that can make financial planning more challenging.

Charitable Giving and Tax Planning: Maximizing Benefits

Charitable Giving and Tax Planning: Maximizing Benefits

September 16, 2024

Most taxpayers working with a knowledgeable CPA know that integrating charitable giving into your tax planning strategy can be a powerful way to minimize your tax bill while supporting causes you care about.

Understanding the Tax Implications of Converting Your Primary Residence to a Rental Property

Understanding the Tax Implications of Converting Your Primary Residence to a Rental Property

August 20, 2024

A client recently asked an important question that many homeowners face:

If the house purchase I'm hoping to make goes through and my current residence becomes a rental property, does that change what happens if I sell it in the future or if I want to move back in at a later date?

Strategic Tax Planning in Anticipation of Upcoming Election-Related Tax Law Changes

Strategic Tax Planning in Anticipation of Upcoming Election-Related Tax Law Changes

August 05, 2024

As the US presidential election draws near, the political landscape is more turbulent and unpredictable than ever. With candidates clashing on critical issues such as taxes and voters navigating a maze of information and misinformation, the stakes are extraordinarily high.

2024 Tax Planning Series: Basis of Property Under 1031 Like-Kind Exchanges and 1033 Involuntary Conversions

2024 Tax Planning Series: Basis of Property Under 1031 Like-Kind Exchanges and 1033 Involuntary Conversions

July 30, 2024

Tax planning and preparation are unique to each client and should be tailored to an individual and company's needs. Building wealth by acquiring property is a strategy that suits many clients for tax reasons.

Tax Cuts and Jobs Act (TCJA) Sunset Impacts

Tax Cuts and Jobs Act (TCJA) Sunset Impacts

July 29, 2024

The TCJA significantly altered the landscape of individual tax deductions. By doubling the standard deduction and eliminating several itemized deductions, it provided a net benefit to taxpayers who previously didn't itemize.