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How Inherited Assets Are Taxed
Receiving an inheritance can be both a blessing and a source of confusion. Many beneficiaries assume inherited assets are fully taxable, while others believe there are no tax consequences at all. The tax treatment of inherited assets depends on several factors,...
S-Corp Owner Salary vs. Distribution: A Simple Way to Save on Taxes
Small business owners pay themselves via several methods, and those who own an S-corp have access to more personal income options. However, how you pay yourself as an S-Corp owner can make a big difference in your taxes at the end of the year. Why do some S-corp...
Should You Convert a Traditional IRA to a Roth IRA?
Roth IRA conversions can be a powerful tax planning move for individuals from high earners to retirees, but when do they make sense and what do they cost? Let's review how Roth IRA conversions are taxed, key rules to watch, and strategies to help minimize the impact....
How to Avoid Underpayment Penalties
Tax underpayment penalties can be an unexpected and unpleasant surprise for everyone from high-net-worth families to gig workers, but why do they happen and how do they work? This short guide reviews when underpayment penalties apply, how much one might owe, and how...
The Complicated History of Conservation Easement Abuse in Georgia
A few years ago, a new form of fraud affected many people both across the US and specifically in Georgia. Conservation easement was, originally, a well-intended means to protect land and wildlife for future generations, provide tax reductions, lower property taxes,...
Our Georgia Pass-Through Entity (PTE) Tax Guide
Georgia’s Pass-Through Entity (PTE) tax is a valuable tool for business owners looking to manage their state tax burden effectively. Below, we break down what the Georgia PTE tax is, how to elect it, how to make Georgia PTE payments, and some key compliance tips from...