Category: Tax Planning
HOW DO TAXES WORK IN A LIVING TRUST?
A Living Trust is typically a Revocable Trust, which means that the Grantor has the…
Tax Year 2024: Received CP22A from IRS? What is the next step?
The IRS CP22A notice is a communication from the Internal Revenue Service (IRS) that informs…
TAX YEAR 2024: FBAR (FinCEN Reporting Requirements)
Per the Bank Secrecy Act, every year you must report certain foreign financial accounts, such…
Tax Year 2024: IRS Payment Options
Taxpayers have a variety of options to consider when paying federal taxes. Electronic payment options are the…
Standard mileage rates for 2024
Source IRS IRS issues standard mileage rates for 2024; mileage rate increases to 67 cents…
Tax Year 2023: HSA for Retirement
Despite the fact that millions of Americans have HSAs or could qualify for one in…
Tax Year 2023: Health savings account (HSA)Tax Year 2023
Health savings account (HSA) contribution limits for 2023 are going up significantly in response to…
Accountable Plan! What should you know?
An accountable plan is a way for S corporations to save taxes by reimbursing business…
LLC Federal Tax Classification
LLC Federal Tax Classifications are the rules that determine how the IRS treats a Limited…
Annual Benefits Enrollment – What you should know?
Every year, during open enrollment, a person or employee can modify, add, or remove their…