Tax Planning

November 8, 2019 | Juanita Farmer, CPA

Year-End Tax Planning for Individuals

With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies you can use to minimize your tax burden for 2019. General Tax planning Strategies General tax planning strategies for individuals include postponing income and accelerating deductions, and careful consideration of timing-related tax planning strategies […]

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October 24, 2019 | Juanita Farmer, CPA

Tax Preparation vs. Tax Planning

Many people assume tax planning is the same as tax preparation but the two are actually quite different. Let’s take a closer look: What is Tax Preparation? Tax preparation is the process of preparing and filing a tax return. Generally, it is a one-time event that culminates in signing your return and finding out whether […]

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November 8, 2018 | Juanita Farmer, CPA

Year-End Tax Planning for Individuals

Once again, tax planning for the year ahead presents a number of challenges, this year, primarily due to tax laws changes brought about the passage of the Tax Cuts and Jobs Act of 2018. These changes include the nearly doubling of the standard deduction, elimination of personal exemptions, and numerous itemized deductions reduced or eliminated. […]

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September 24, 2018 | Mark Avallone, MBA, CFP®, CRPS®

It’s Not Too Soon For Taxes. 4 Moves You Can Make Now

With the April 15th tax filing deadline still months away, it may seem early to consider taxes, but when it comes to reducing your tax bill, starting early makes eminent sense. Too often tax planning is delayed until very late in the year or until we complete our tax returns. By then it is often […]

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June 23, 2017 | Juanita Farmer, CPA

Tax Planning for Small Business Owners

Tax planning is the process of looking at various tax options to determine when, whether, and how to conduct business and personal transactions to reduce or eliminate tax liability. Many small business owners ignore tax planning and don’t even think about their taxes until it’s time to meet with their accountants once a year. But […]

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November 3, 2016 | Juanita Farmer, CPA

Year-End Tax Planning for Individuals

Tax planning strategies for individuals this year include postponing income and accelerating deductions, as well as careful consideration of timing related investments, charitable gifts, and retirement planning. General tax planning strategies that taxpayers might consider include the following: Sell any investments on which you have a gain or loss this year. For more on this, […]

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September 27, 2016 | Juanita Farmer, CPA

Tax Planning for Small Business Owners

Tax planning is the process of looking at various tax options to determine when, whether, and how to conduct business transactions to reduce or eliminate tax liability. Many small business owners ignore tax planning. They don’t even think about their taxes until it’s time to meet with their CPAs, EAs, or tax advisors but tax […]

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