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.
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
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.
2024 Tax Planning Series: Home Office Deductions in 2024
July 23, 2024
The after-effects of the COVID-19 pandemic are lingering, and one of the biggest ones is the change in the number of people who work from home. The increase in working from home has many people eyeing additional tax deductions, including a Home Office deduction to reduce the amount of the taxpayer's income.
July 18, 2024
As noted in several of our blogs, real estate is an attractive way to build wealth, including owning rental property. Understanding the importance of keeping accurate accounting records is as important as collecting the rent on time each month.
Excess Business Losses for Noncorporate Taxpayers Extended
July 15, 2024
The Inflation Reduction Act of 2022 extended the limitations on excess business losses for shareholders and partners of pass-through businesses and sole proprietors to *January 1, 2029*, from January 1, 2026.