tax planning

Posts Tagged ‘tax planning’

Plan Now, Save Later! (Part 2)

By Andy Johnson, CPA, Tax Principal, Cover & Rossiter Welcome back for Part Two! In Part 1, we discussed the strategy of Batching Your Itemized Deductions (click here to read Part 1), and we hope this has kick-started your Tax Planning Season.  In Part Two, we will highlight a few alternative strategies you might consider…

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Plan Now, Save Later! (Part 1)

If you project that your total itemizable deductions for 2019 will be close to exceeding your applicable standard deduction amount, you should consider batching.

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5 Ways to Get a Jump on Your 2019 Taxes

Yes, tax season is officially over. And you might be kicking back and relaxing, putting off thinking about next year’s taxes as long as you can. However, smart taxpayers know that the more you plan ahead, the better chance you have of reducing the amount you pay next time around. Here are a few easy…

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New Client Support Tools – Check them out!

Earlier this year, we added new tools to our website. Our goal is to make it easier for you to get answers to questions any time they come up. Here are a few of the questions, these tools can help answer: Where’s my refund? How many years do I need to keep tax documents? I’m…

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Take Retirement Plan Distributions by December 31

Taxpayers born before July 1, 1946, generally must receive payments from their individual retirement arrangements (IRAs) and workplace retirement plans by December 31. Known as required minimum distributions (RMDs), typically these distributions must be made by the end of the tax year, in this case, 2016. The required distribution rules apply to owners of traditional,…

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Reminder: College Tax Credits for 2016

With another school year in full swing, now is a good time for parents and students to see if they qualify for either of two college tax credits or other education-related tax benefits when they file their 2016 federal income tax returns next year. American Opportunity Tax Credit or Lifetime Learning Credit. In general, the American…

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2016 Tax Provisions for Individuals: A Review

Many of the tax changes affecting individuals and businesses for 2016, arose from the Protecting Americans from Tax Hikes Act of 2015 (PATH) which modified or made permanent numerous tax breaks (the so-called “tax extenders”). To complicate matters, some provisions were extended only through 2016, and are set to expire at the end of this…

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