by Tabitha Regan, CPA | Oct 25, 2024 | Individual Tax, Tax Planning
Georgia has tax credit programs in place for Georgia residents to re-direct their tax dollars to programs of their choice. Tax credits give you a “dollar for dollar” benefit which means a $1 tax credit is equivalent to paying $1 in Georgia taxes. Review our tax credit...
by Stephanie Nolan | Oct 23, 2024 | Individual Tax, Tax Planning
When it comes to supporting a cause, understanding the difference between “sponsorships vs. charitable contributions” is essential, especially when considering the tax implications. While both sponsorships and donations can provide valuable support to...
by Stephanie Nolan | Oct 9, 2024 | Family, Individual Tax
When inheriting an IRA, understanding the basics of inherited IRA rules is crucial for managing your tax liabilities and ensuring compliance with IRS regulations. The transfer of assets from the original owner to the beneficiary can be complex. We’ve summarized the...
by Stephanie Nolan | Aug 28, 2024 | Individual Tax, Infographic
Share this Image On Your SitePlease include attribution to LittleOwl CPA with this graphic. Transcript: 2024 Tax Season Document Checklist 1. Identification Social security numbers Bank account numbers Dates of birth Last year’s tax return 2. Income W-2 forms...
by Tabitha Regan, CPA | Aug 26, 2024 | Accounting, Individual Tax
In an era of growing environmental consciousness, the Inflation Reduction Act of 2022 offers a suite of tax credits to make energy efficiency and renewable energy more accessible and financially attractive. This landmark legislation includes the Residential Clean...
by Stephanie Nolan | Aug 5, 2024 | Family, Individual Tax
Graduating from college is a significant milestone, but it often comes with the daunting task of managing student loan debt. Understanding when to pay student loans, how to develop an effective repayment strategy, and what options are available can make this process...
