Charitable Giving and Tax Planning: Maximizing Benefits
September 16, 2024
Most taxpayers working with a knowledgeable CPA know that integrating charitable giving into your tax planning strategy can be a powerful way to minimize your tax bill while supporting causes you care about.
Understanding the Tax Implications of Converting Your Primary Residence to a Rental Property
August 20, 2024
A client recently asked an important question that many homeowners face:
If the house purchase I'm hoping to make goes through and my current residence becomes a rental property, does that change what happens if I sell it in the future or if I want to move back in at a later date?
Strategic Tax Planning in Anticipation of Upcoming Election-Related Tax Law Changes
August 05, 2024
As the US presidential election draws near, the political landscape is more turbulent and unpredictable than ever. With candidates clashing on critical issues such as taxes and voters navigating a maze of information and misinformation, the stakes are extraordinarily high.
Tax Cuts and Jobs Act (TCJA) Sunset Impacts
July 29, 2024
The TCJA significantly altered the landscape of individual tax deductions. By doubling the standard deduction and eliminating several itemized deductions, it provided a net benefit to taxpayers who previously didn't itemize.
2024 Tax Planning Series: Home Office Deductions in 2024
July 23, 2024
The after-effects of the COVID-19 pandemic are lingering, and one of the biggest ones is the change in the number of people who work from home. The increase in working from home has many people eyeing additional tax deductions, including a Home Office deduction to reduce the amount of the taxpayer's income.