Understanding Gift Taxes: A Simple Guide for Generous Hearts. Even if you probably will never have to pay gift taxes, it’s worth getting the answer to common questions we get about this widely misunderstood IRS provision.
Category Archives: Taxes
What to do when You Can’t Pay Your Taxes
Discover practical solutions for unpaid taxes in our blog, “What to do when You Can’t Pay Your Taxes.” Learn about IRS programs, including installment agreements and offers in compromise, with real-life client stories. Explore online payment plans and negotiation strategies for a fresh start. Subscribe for free monthly tips and checklists, ensuring financial confidence in the face of tax challenges.
When does a child need to file a return?
Did you know that the IRS treats everyone equally when it comes to taxes, regardless of age? So, if your child is making some cash from their summer gig, crushing it on Roblox, gaining traction on YouTube, or even exploring the stock market with a youth trading account, it’s crucial to keep the taxman informed if they cross certain income thresholds.
NYS and NYC wants to make sure you really moved before they let you stop paying taxes
In the last few years, we have had clients think they moved out of NYS or NYC and want to obtain the related tax savings. But the cost, time and effort of the audit was not pleasant.
Tax planning when inheriting your childhood home
We have few clients who have inherited their childhood home. And in some of these cases, a large tax bill as well.
Virtual Currency and Taxes can be Taxing
A guide to help our clients understand the tax treatment of virtual currency.
Tax Free Income with a Backdoor ROTH IRA
The Roth IRA is a way to earn tax-free income. Using Roth IRA accounts allows you to withdraw your investment gains completely tax-free in retirement.
Your Taxes Under Project 2025
If you’ve been on social media or tuned into the news lately, you may have heard about Project 2025, a 900-page policy blueprint from the Heritage Foundation. This includes everything from public education and the Federal Reserve to the IRS and the United States tax system.