by Stephanie Nolan | Feb 18, 2025 | Family, Individual Tax
If you’re a homeowner, you may have heard the term “homestead exemption” mentioned in relation to your property taxes or legal protections. But what exactly is a homestead exemption, and how does it benefit you as a homeowner? Let’s dive into the...
by Laxmi Patel | Feb 12, 2025 | Individual Tax
Many taxpayers may not realize that they need to pay taxes on the interest they accrue on loans, bonds, savings accounts, and more. To the government, almost all income is taxable income, but interest income is easy to forget or ignore. In short, if you’ve made money...
by Anandi Seetharaman | Feb 4, 2025 | Individual Tax, Tax Planning
The tax year 2024 adjustments apply to income tax returns filed in 2025. Revenue Procedure 2023-34 provides detailed information about these annual adjustments. The main highlights and most important changes changes are listed below. The Standard Deduction The...
by Laxmi Patel | Jan 8, 2025 | Individual Tax, Small Business, Tax Planning
The Tax Cuts and Jobs Act (TCJA) of 2017 aimed to stimulate economic growth. Key provisions from the TCJA are set to expire on December 31, 2025 that will impact individuals. These provisions include capped deductions for state and local taxes (SALT) at $10,000,...
by Stephanie Nolan | Nov 20, 2024 | Family, Individual Tax
Early retirement buyout packages can include severance payments, medical support, bridge payments, or continued salaries. If you’re asking yourself, “Should I take a severance retirement package?”, it’s important to consider factors like your age, retirement savings,...
by Stephanie Nolan | Nov 4, 2024 | Individual Tax, News, Small Business, Tax Planning
If you have been affected by Hurricane Helene, Hurricane Milton, or another recent federally declared major disaster, you may be relieved to hear that over the past few years, it has become easier to access your work-based retirement plan and IRA money. Following is a...
