An unexpected tax bill can ruin your day. To help avoid that unwelcome surprise, here are some easy moves many people can make to cut their tax bills. In many cases, you must itemize rather than take the standard deduction in order to use these strategies. The extra effort may be worth it. (Flower Mound Texas Tax Reduction: Cutting Your Bill) 1. Tweak your W-4 The W-4 … Read More
DFW Accountant Advice: Reduce Your Taxes Owed
Not every tax strategy will apply to your situation or yield benefits that justify the time, risk, or cost. To avoid any unintended consequences, develop your planning strategy with your tax and financial advisor or CPA. By keeping the focus on your entire situation and goals, work to prevent the tax-tail from wagging the dog. (DFW Accountant Advice: Reduce Your … Read More
Flower Mound Tax Advice: Retirement Tax Savings
For people nearing retirement or in retirement, every dollar counts and planning ahead is crucial. That’s especially true for taxes. (Flower Mound Tax Advice: Retirement Savings) Now that 2018 tax returns are done and gone, this is an opportune time to look for 2019 tax savings strategies for retirement. Here are two ways to do it: Use your IRA to … Read More
DFW Tax: Having a Business In More Than One State
If your small business has grown beyond your state’s borders so that you operate in more than one place, this could trigger tax complexities. (DFW Tax: Having a Business In More Than One State) Here are some to think about: Business Taxes When Operating in More than One State State Income Taxes If you operate in more than one state, how do … Read More
Flower Mound Business Advisor: Tax Planning Is A Business Strategy
For lots of businesses, tax season is a hard time of year. It’s often associated with stress, record-combing and exhaustion. This is one reason why small businesses should be thinking about their taxes year-round and prepare long before it comes time to file. By including tax planning into your overall business strategy, small business owners can tackle their taxes far … Read More
11 Tips for Year-End Tax Planning
With the end of the year approaching, it’s time for strategic moves to lower your 2015 tax bill. Strategy: Prepay deductible expenditures If you itemize deductions, accelerating some deductible expenditures into this year to produce higher 2015 write-offs makes sense — if you expect to be in the same or lower tax bracket next year. See the table at the … Read More