Category Archives: Taxes

Self-employed Plans – SEP IRAs and SIMPLE

Posted on February 5, 2020 by Carol

Series. Part 3 of 4. Self-employed Plans: SEP IRA and SIMPLE. We have talked about retirement vehicles: Traditional & Roth IRAs. Last week we talked about a garage they can be parked in: Employer-provided retirement plans. In this second to … Continue reading →

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Employer-provided Plans: 401Ks, 403Bs, and 457Bs.

Posted on January 31, 2020 by Carol

Series. Part 2 of 4. Employer-provided Plans: 401Ks, 403Bs, and 457Bs. In this series of four, we are talking about various tax advantageous retirement and savings vehicles and their maximum contribution amounts. We hope that you check on your progress … Continue reading →

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Individual Retirement Accounts: Traditional & Roth

Posted on January 22, 2020 by Carol

In this series of four, we will look at various tax advantageous retirement and savings vehicles and their maximum contribution amounts for 2020. We hope that you check on your progress towards maxing it out. Let’s start with the well-known … Continue reading →

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Year-end To-do List.

Posted on December 18, 2019 by Carol

Here’s a what to do before December 31st checklist to help you prepare for upcoming tax return preparation. REINFORCING THE BASICS. Keep in mind that the standard deduction is still increased resulting from the 2017 TCJA; therefore, you may or … Continue reading →

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Hitting Those Year-end Numbers-Business Taxpayers.

Posted on December 11, 2019 by Carol

If you’re thinking 2019 profit has resulted in a bit more taxable income than you would like here are a few things you can do to do a bit of business tax planning. You can also call Carol and make an … Continue reading →

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Hitting Those Year-end Numbers-Individual Taxpayers.

Posted on December 4, 2019 by Carol

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 →

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Step by Step – The 2020 W-4

Posted on November 20, 2019 by Carol

Updated 12/17/19. 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, … Continue reading →

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Getting Schooled – Maximizing Education Tax Credits

Posted on November 13, 2019 by Carol

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 →

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Getting Paid to Reduce Your Carbon Footprint – Residential Energy Credits.

Posted on November 6, 2019 by Carol

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 →

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Getting To That 20%

Posted on February 20, 2019 by Carol

Perhaps the biggest change to your business and individual taxes is the Section 199A, Qualified Business Income Deduction (QBID). Your complimentary trip down Memory Lane (aka link to a Carol McAtee archived blog) –  TCJA and What in the World … Continue reading →

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