Sep 10, 2024 | Blog Posts, Home Slider, Tax Talk Tuesdays
Qualifying as a real estate professional offers substantial tax benefits, such as deducting losses against nonpassive income and avoiding the net investment income tax. However, this status alone does not automatically classify rental real estate activities as...
Sep 8, 2024 | Blog Posts, Home Slider, Tax Talk Tuesdays
Companies offer comprehensive retirement plans as part of their benefits packages to attract and retain top talent. These plans enhance employee satisfaction and allow businesses to shift compensation from salary to benefits, helping them reduce payroll taxes....
Sep 1, 2024 | Blog Posts, Home Slider, Tax Talk Tuesdays
If you’re paying for higher education, two federal tax credits can help students lower their taxes: the American Opportunity Tax Credit and the Lifetime Learning Credit. The student for whom the credits are claimed can be the taxpayer, their spouse, and their...
Aug 26, 2024 | Blog Posts, Home Slider, Tax Talk Tuesdays
Whether you plan to give financial gifts during your lifetime or leave your estate behind after you pass, the unified tax credit offers a way to reduce the tax burden. This lifetime credit merges gift and estate taxes, giving you flexibility in distributing your...
Aug 19, 2024 | Blog Posts, Tax Talk Tuesdays
The Corporate Transparency Act (CTA) of 2021 requires entities to report beneficial ownership information (BOI) to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) starting January 1, 2024, to enhance transparency and combat...
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