What Is an S Corporation, and How Does It Work? Have you been thinking about establishing an S corporation? Maybe you have the opportunity to become a shareholder of a corporation of this type. Here’s what you should know...
Continue Reading
529 Plans: Know the Basics There are two kinds of 529 plans: prepaid tuition plans and savings plans. Prepaid tuition plans (available in only nine states) allow you to pay current tuition rates for future attendance at designated colleges...
Is Your Side Hustle a Hobby or a Business? With the rise of the gig economy, a lot of people have opted to turn their hobbies into profitable ventures. In turn, the lines are blurring between hobbies and small...
Tax Tips for Parents When starting a family, you might be interested to know that you’re now eligible to claim new credits and deductions, which ultimately lessens the total value of your tax liability. You can start by utilizing...
Required Minimum Distributions: What’s The Story? Once you reach a certain age, you must take an annual required minimum distribution, which is a payout from your traditional IRA, 401(k) or other retirement account. The required amount is calculated based...
What Qualifies for a Home Energy Credit and How Can I Receive One? Written by: Anna McDonough Summer is here, and you know what that means, it’s time for home improvement projects! Did you know that certain utility upgrades...
The SECURE — Setting Every Community Up for Retirement Enhancement — Act was passed in 2019. After that, SECURE Act 2.0 was passed in December 2022 and went into effect Jan. 1, 2023. The secondary SECURE Act establishes new...
It is somewhat unusual to highlight 2026 taxes in 2024, but we are in an unusual situation: Many of the provisions in 2017’s Tax Cuts and Jobs Act will expire at the end of 2025 unless Congress acts to...
When Should I File a Tax Extension? A tax extension enables taxpayers some extra time past the April 15th deadline to submit their tax returns. Typically, by filing a tax extension you will have six additional months to file...
Help us ensure your taxes get filed on time! As a taxpayer, you are likely aware that April 15th is National Tax Day. This is the day individual income tax returns are due to the federal government and to...