Changes to the Social Security Wage Base for 2025
The 2025 Social Security wage base rises to $176,100. Prepare for payroll tax changes. Contact us for help with compliance and planning.
top of page
ARTICLES
Search
Steve Julal
Nov 7
Deducting Vehicle-Related Expenses: What You Need to Know
TCJA limits vehicle deductions however, self-employed CAN claim work miles, while others can only claim medical, charity, & military moves.
Steve Julal
Nov 6
Cash Gift Giving: The Tax Benefits
As 2024 comes to an end, consider tax free gifts to reduce taxes. Couples can give $36K ($18K for singles). 'Tis the gift giving season.
Steve Julal
Nov 5
529 Plans for Your Child’s Educational Future
529 plans offer tax-free growth for education savings, covering K-12 and college costs. Withdrawals are tax-free for qualified expenses.
Steve Julal
Nov 4
Hobby vs Business: How will the IRS Evaluate My Business Activities
To deduct losses, you must prove your business is not a hobby. Profit intent must be shown through records, time, and expertise. Contact us
Steve Julal
Nov 1
Should You Separate Real Estate Ownership from Your Business?
Separating real estate ownership from your business may reduce double taxation and boost asset protection. Contact us to learn more.
Steve Julal
Oct 25
Does your company offer Employee Assistance Programs (EAPs)? If so, be mindful of compliance and regulations.
EAPs support employees’ mental health but may require ERISA, COBRA, HIPAA, or ACA compliance. Legal guidance helps ensure full compliance.
Steve Julal
Oct 24
The Tax Consequences to Working Remotely
Remote work can cause double taxation and multi-state tax obligations. Employees and employers must be aware of these potential tax issues.
Steve Julal
Oct 14
Understanding Taxes on Real Estate Gains
Selling real estate? You may owe up to 25% in taxes, plus 3.8% NIIT. Rules are complex—contact us with questions and we'll guide you!
Steve Julal
Oct 9
Lower your Tax Bill with Year-End Tax Strategies
Plan tax-saving strategies for 2024. Maximize deductions, delay income, contribute to retirement, and donate smartly from IRAs.
Steve Julal
Oct 7
Using the Electric Vehicle (EV) Tax Credit
Electric vehicles are on the rise, boosted by a $7,500 tax credit. Check if you qualify and learn how to take advantage of this incentive.
Steve Julal
Oct 2
Avoid Taxable IRA Withdrawals with Certain Charitable Donations
If you enjoy donating to charity and are required to take withdrawals from your traditional IRA, you might be able to save on taxes.
Steve Julal
Sep 12
Are you Liable for Two Additional Taxes on your Income?
If your income is high, you may owe two extra taxes: NIIT and Medicare. They can increase your tax bill but plan ahead to reduce its impact.
Steve Julal
Sep 11
Innocent Spouse Relief - What is it, and how does it work?
Have you ever ended up with a surprise tax bill because of something your spouse or ex-spouse did. You may be eligible for relief.
Steve Julal
Sep 6
The Tax Implications of Disability Income Benefits
Do you rely on disability income, or know someone who does? Here's what you need to know about how that income is taxed.
Steve Julal
Sep 5
6 Tax-Free Income Opportunities
Believe it or not, there are legitimate ways to earn tax-free income and gains. Here are six tax-free income opportunities.
Steve Julal
Aug 26
Owe in Estimated Taxes? What’s Next for You
Owe in federal taxes? The third installment for 2024 is due on Monday, September 16. Contact us to make a plan to pay.
Steve Julal
Aug 13
Available Tax Breaks when Caring for an Elderly Relative
Caring for an elderly relative brings many personal rewards, and you might also be eligible for tax breaks. Here are four to consider.
Steve Julal
Aug 12
Planning your Estate? Consider these Strategies to Save in Future Taxes
With the high federal estate tax exemption for 2024, many people aren't worried about estate taxes. However, you might want to reconsider.
Steve Julal
Aug 7
The Tax Consequences of Selling Mutual Funds
Investing in mutual funds is popular, but selling shares can lead to complex tax issues. Here are the rules you need to know.
bottom of page