You’ve worked hard throughout your career to save for retirement. Because of this, you want to make the most of your money. However, when planning for retirement, many people don’t consider how taxes will affect their savings. (DFW Tax Advice: Pay Less Taxes In Retirement) If you’re saving in a 401(k) or traditional IRA, your dollars are tax-deductible up front. But … Read More
Dallas Tax Advice: Who’s the Right Accountant For Me?
No one says you have to be wealthy or a business owner to benefit from hiring a tax accountant. You might think that preparing your own taxes is just too time consuming or confusing. Maybe your tax situation is complex or it’s changed so you need specialized advice and tips. You might be facing a problem, such as filing back … Read More
DFW Tax Specialist: Last Minute Tax Tips (And Software) For Small Biz
First, two simple tax tips, then we’ll get to the software itself. Use a Separate Account to Pay Taxes. One of the simplest decisions you can make in your business life is to setup a separate tax savings account. For most banks, if you have a checking account already, you can just call and open a savings account up over the phone. As … Read More
Flower Mound Tax Help: Freelancer Tax Tips
With the changes made by the Tax Cuts and Jobs Act not well understood by many Americans, taxes can be confusing enough for employees. Being a freelancer or independent contractor adds another layer of complication. For example, did you know there are three additional types of retirement accounts available to self-employed individuals that are not accessible to employees? Max out … Read More
Flower Mound Tax Help: Smart Ways To Invest Tax Savings
1. PAY OFF HIGH-INTEREST DEBT Has a high-interest credit card balance been hard to pay off? Instead of buying a vacation with your refund, tackle that debt instead. Start with debts with the highest interest rates; eliminating these will save you the most money over time. If you don’t have any credit card debt, use your refund to reduce car … Read More
Dallas CPAs: Bringing Joy To Tax Time
Few things bring a business owner’s blood pressure up like the thought of tax time. Between the receipts to go through, the surprise of what they will owe, and the hours it takes to gather annual income information, it’s just not a fun prospect for most business owners. But as aCPA, I know it doesn’t have to be like that. … Read More
Last-Minute Tax Tips From Tax Reduction Specialist
For those who wish to file by April 17, the pressure begins to build around now. Before the race gets heated here shortly, you may want to learn how last year’s tax reform changed things. You’ll be dealing with some of the biggest changes in a generation, so prepare. Besides fundamental restructuring like the elimination of exemptions, there are more … Read More
DFW Tax Advice: Why You Might Not Get a Refund This Year
Tax season is here. If you’re like many people, you may look forward to receiving a sizable income tax refund each year. You might even have plans for how you’ll spend the money before the refund ever shows up. Unfortunately, for some taxpayers, the refund they anticipate will never arrive. Just because you received a refund last year (or even … Read More
Flower Mound CPA: Where’s My Refund?
Early February is one of the busiest times for people doing their taxes. Are you someone who can’t wait to get your hands on your refund? Well, we can tell you how soon you will probably get that refund. The tax reform law officially kicked in on January 1, 2018. The taxes you file from January through April 15, 2019 … Read More
DFW Tax Strategy: Save Taxes Right Now
1. Figure out whether it makes sense to itemize One of the most important decisions you’ll make when you file taxes is whether you should itemize your deductions or claim the standard deduction. The standard deduction was nearly doubled by tax reform and is going up again. Even if you’ve always itemized in the past, don’t assume you’re going continue doing so in … Read More