Tax Planning

After weeks or months of job seeking, you land your dream job — but it’s in a different state. The location of the job is close enough so that you can commute every day rather than move. However, you are still faced with the dilemma of where and how to pay state income taxes. Understanding […]

Home foreclosure is a difficult and often overwhelming experience. Beyond the emotional and financial strain of losing your home, a foreclosure can also come with significant tax implications that many homeowners may not be prepared for. Understanding these tax consequences is crucial to navigating this challenging time and avoiding surprises when filing your tax return. […]

Weddings are significant life events, often accompanied by substantial expenses. As couples plan their big day, a common question arises: can any of these costs reduce their tax liability? While most wedding expenses are considered personal and thus not tax-deductible, there are some exceptions where careful planning could yield tax benefits.   General Rules for […]

Estimated tax payments play a critical role in helping taxpayers meet their annual tax obligations. For many individuals, including the self-employed, retirees, and investors, these quarterly payments are the primary way to stay compliant with tax requirements. With the final 2024 payment deadline approaching, now is the time to ensure you’re prepared and avoid potential […]

Qualified Charitable Distributions (QCDs) are a powerful tax planning tool for individuals who wish to support charitable organizations while managing their tax obligations. For those with required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs), QCDs can help reduce taxable income and provide a way to make meaningful contributions to qualified charities. This article explains […]

The IRS mileage rates for 2025 have been announced, and these updates are crucial for taxpayers and businesses that rely on mileage deductions. Whether you’re using your vehicle for business, medical purposes, charitable activities, or moving expenses, understanding the latest rates can help you maximize your deductions and stay compliant with tax laws.  What Are […]