by Lori Bowden | Jan 1, 2025 | Individuals, Newsletter, Tax
Filing joint tax returns generally results in the lowest tax bill for married couples. However, in some circumstances, they may pay less taxes if they file separately, such as when one spouse has large medical expenses. Medical expenses are deductible only to the...
by Lori Bowden | Dec 4, 2024 | Business, Individuals, Newsletter, Tax
Having won control of the White House, the Senate and the House of Representatives, Republicans will have the opportunity to move forward their vision for federal taxes. What might this mean? First, many provisions in President-Elect Donald Trump’s signature tax...
by Lori Bowden | Dec 3, 2024 | Newsletter, Tax
A cost segregation study allows a business property owner to accelerate depreciation deductions. That, in turn, enables the owner to reduce current taxable income and increase cash flow. A cost segregation study combines accounting and engineering techniques to...
by Lori Bowden | Dec 2, 2024 | Individuals, Newsletter, Tax
As the end of the year approaches, many people give more thought to supporting charities they favor. To avoid losing valuable charitable deductions if you itemize, you’ll need specific documentation, depending on the type and size of your gift. Here’s a breakdown of...
by Lori Bowden | Dec 1, 2024 | Individuals, Newsletter, Tax
Many Americans have become victims of natural disasters in 2024. Wherever you live, unexpected disasters may cause damage to your home or personal property, creating a “personal casualty loss.” This is defined as damage from a sudden, unexpected or unusual event, such...
by Lori Bowden | Nov 4, 2024 | Individuals, Newsletter, Tax
As the holidays approach, it’s time to consider tax planning moves that will help lower your 2024 taxes, as well as set you up for tax savings in future years. Here are seven year-end tax planning ideas to consider. 1. Strategize on the Standard Deduction vs....
