ARTICLES

Dec 6

Take Advantage of Clean Energy Tax Credits Before Potential Changes

Claim IRA tax credits: 30% for energy upgrades, $7,500 for EVs, $1,000 for chargers. Act by Dec. 31; changes may end these perks.

What’s New for Retirement Contributions in 2025? Let’s Break It Down!

Steve Julal

Dec 5

What’s New for Retirement Contributions in 2025? Let’s Break It Down!

IRS raises 2025 retirement limits: 401(k) to $23,500, higher catch-up for ages 60–63. SIMPLE & SEP limits increase, IRA stays at $7,000.

Changes to the Social Security Wage Base for 2025

Steve Julal

Nov 20

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.

Deducting Vehicle-Related Expenses: What You Need to Know

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.

529 Plans for Your Child’s Educational Future

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.

Hobby vs Business: How will the IRS Evaluate My Business Activities

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

Should You Separate Real Estate Ownership from Your Business?

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.

Does your company offer Employee Assistance Programs (EAPs)? If so, be mindful of compliance and regulations.

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.

The Tax Consequences to Working Remotely

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.

Understanding Taxes on Real Estate Gains

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!

Lower your Tax Bill with Year-End Tax Strategies

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.

Using the Electric Vehicle (EV) Tax Credit

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.

Avoid Taxable IRA Withdrawals with Certain Charitable Donations

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.

Are you Liable for Two Additional Taxes on your Income?

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.

Innocent Spouse Relief - What is it, and how does it work?

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.

The Tax Implications of Disability Income Benefits

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.

Owe in Estimated Taxes? What’s Next for You

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.

Available Tax Breaks when Caring for an Elderly Relative

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.

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