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Maximizing the Tax Benefit of Charitable Deductions

Published on May 13th, 2022

Your charitable contribution deductions are still a great tax savings tool, but they now require more planning. Now is a great time to look at this area as part of your tax planning exercise. Background Typically, cash and non-cash charitable donations can be deducted on an itemized return. But with the standard deduction now $12,950 […]

The Benefits of Being a Sole Proprietor

Published on May 9th, 2022

Many start-up businesses move from hobby status to a business when they start to make a profit. The tax entity typically used is a sole proprietorship. Taxes on this business activity type flow through your personal tax return on a Schedule C. This business form has many benefits. Here are some to consider: You can […]

It’s Tax Time! Estimated Taxes are Due.

Published on April 8th, 2022

Now is the time to file your taxes and make your estimated tax payment. Both your individual tax return AND first quarter estimated tax payment are due by Monday, April 18th. Here is what you need to know. First quarter due date: Monday, April 18, 2022 The estimated tax payment rule You are required to […]

Common April Tax Questions Answered!

Published on April 7th, 2022

The individual tax deadline of April 18th (yes, this year it’s April 18th!) is fast approaching. Here are answers to five common questions that taxpayers typically ask in April. What happens if I don’t file on time? There’s no penalty for filing a tax return after the deadline if you are set to receive a […]

Protect Your Emergency Fund From Inflation

Published on April 6th, 2022

Most financial experts suggest keeping three to six months worth of household expenses in savings to help in case of emergency. But with record inflation, that task just got a lot harder to accomplish as virtually every safe place to put your emergency funds will not provide interest rates that keep pace with inflation. But […]

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