December always flies by. You’re trying to finish end-of-year work while squeezing in time for holiday activities. And you know your customers and vendors (and employees, if you have them) are experiencing the same time crunch. But it’s important to you set some time aside to: Chase down overdue revenue, Take action that can accelerate […]

As the holidays approach, it’s time to consider tax planning moves that will help lower your 2024 taxes, as well as set you up for tax savings in future years. Here are seven year-end tax planning ideas to consider. 1. Strategize on the Standard Deduction vs. Itemizing This is a tried-and-true year-end tax planning strategy. […]

In recent years, the residential real estate market has surged in many areas. That means many homes have greatly appreciated, and the $250,000 home sale gain exclusion ($500,000 for joint filers) isn’t always sufficient to protect a home sale from federal income taxes. If you’re a senior thinking about selling your highly appreciated home, the […]

Now is a good time to consider year-end moves that can help reduce your business’s 2024 taxes. The effectiveness of a particular action depends on the circumstances of your business. Here are several possibilities. Time Income and Deductions A tried-and-true tactic for minimizing your tax bill is to defer income to next year and accelerate […]