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Category Archives: Individual Taxes
Hitting Those Year-end Numbers-Individual Taxpayers.
It’s probably about time to start thinking about the 2019 income tax return especially if you want to do a bit of 1040 planning. You can also call Carol and make an appointment. She’d love to see you. And it … Continue reading
Step by Step – The 2020 W-4
The Tax Cuts and Jobs Act, enacted in late December of 2017, wreaked havoc on Form W-4, Employee’s Withholding Allowance Certificate. The TCJA radically changed employee withholding by doubling the standard deduction, modifying tax rates and tax brackets, and eliminating … Continue reading
Getting Schooled – Maximizing Education Tax Credits
Pay tuition. Get tax credits. $2,500 here; $2,000 there. Education credits are seemingly straightforward but are they as straightforward as they seem? Not really and not always. Shameless plug. We just make it look straightforward. REINFORCING THE BASICS. The American … Continue reading
Getting Paid to Reduce Your Carbon Footprint – Residential Energy Credits.
Getting Paid to Reduce Your Carbon Footprint – Residential Energy Credits. REINFORCING THE BASICS! Nuclear, bad. Fossil fuels, bad. Big carbon footprints, bad. Our government encourages renewable or sustainable energy as a means for energy security, job creation, climate control, … Continue reading
Make That Kid Work For You. Part 2 of 2. No Kidding, The Kiddie Tax
Last week we broke the news that according to the Department of Agriculture, with middle-class income of $59,200-$107,000, it is going to cost you a whopping $233,610! to raise that kid until the age of 17. Families with lower incomes … Continue reading
Posted in Individual Taxes, Tax Planning, Taxes
Tagged Carol McAtee, Kiddie Tax, TCJA, TCJA And The Kiddie Tax
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Make That Kid Work For You. Part 1of 2. Get Credit Where Credit’s Due.
HERE’S WHAT’S UP! With middle-class income of $59,200-$107,000, it is going to cost you a whopping $233,610! to raise that kid until the age of 17, says the Department of Agriculture. Families with lower incomes are expected to spend $174,690, … Continue reading
Posted in Individual Taxes, Tax Planning
Tagged Child & Dependent Care Credit, Child Tax Credit, Earned Income Credit, McAtee & Associates, Tax Planning
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New Year Resolution.
HERE’S WHAT’S UP! Conventional wisdom: It’s never too late to do financial planning. Carol’s wisdom: It’s never too early to take care of your money. 2019 Withholding Calculator REINFORCING THE BASICS. What is Retirement? Retirement is the withdrawal from an … Continue reading
Posted in Individual Taxes, Tax Planning
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“Voluntary Compliance” My (fill in the blank)!
Here’s what’s up! America needs tax compliance to pay government’s bills. In all seriousness, voluntary compliance is a principle that we will cooperate with the tax system by filing honest and accurate annual returns and receive excellent customer service along … Continue reading
Posted in Business Taxes, General Interest, Individual Taxes, IRS, Taxes
Tagged frivolous tax argument, IRS, tax code, voluntary compliance
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Form 1099-MISC – By the Box And More
It’s that time of year again when, as a business owner, you have to start thinking about 1099ing folks. There’s a lot to it but we’re going to think about it with you. REINFORCING THE BASICS. What is a Form … Continue reading
Posted in Accounting, Business Taxes, Individual Taxes, Taxes
Tagged 1099, Form 1099-MISC, Independent Contractor, Miscellaneous Income
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Open Sesame…Open Enrollment!
Open enrollment season is here! And with it the annual confusion and scrambling. We’re thinking this week’s blog can eliminate some of that. REINFORCING THE BASICS. What is open enrollment? Annual Open Enrollment (AOE) is this tightly scheduled period each … Continue reading
Posted in General Interest, Individual Taxes, Retirement Planning
Tagged health insurance, Marketplace, Medicare, ObamaCare, Open Enrollment
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