Our client Dr. Jim is all about being green. Not only is he doing his part to save our planet, but Dr. Jim is also saving plenty of taxes while he's at it. Electric Car Three years ago, Dr. Jim purchased a Tesla. Just as important as saving the environment with his Tesla, Dr. Jim… Continue reading Are You As Green As Dr. Jim?
From IRS News: Issue IR-2015-91 The Internal Revenue Service released proposed regulations implementing a new federal law authorizing states to offer specially-designed tax-favored ABLE accounts to people with disabilities who became disabled before age 26. The Achieving a Better Life Experience (ABLE) account provision was signed into law in December 2014. Recognizing the special financial burdens faced… Continue reading IRS Issues Guidelines for State-Sponsored “ABLE” Accounts for People with Disabilities
How would you like to get a higher return on your investment portfolio without taking on any more risk? Believe it or not, it's easy to do. All you need to do is set up your various investment accounts to take full advantage of the current tax rules. With taxes at the highest rates in… Continue reading Tax-Wise Investing
One thing we continually notice is that most kids who work are incorrectly having federal and state income taxes withheld from their wages. Please note that a working child will generally owe no federal income taxes unless wages earned exceed $6,300 (in 2015) and/or investment income exceeds $350. Most of the kids are getting back… Continue reading Summer Job Alert: Working Child’s Taxes