Posts Tagged ‘Accounting Firm Southlake TX’
7 Common Missing Tax Return Items
Want your tax return filed quickly and without error? Then double-check this list of items that are often overlooked. These missing items often cause delays in getting your tax return filed: Forms W-2 and 1099. Using last year’s tax return as a checklist, make sure all your W-2s and 1099s are received and applied to…
Read MoreTips for a Faster Refund
As the tax filing season approaches, there are steps you can take now to speed up the filing process. The faster your return is filed, the faster you get your refund. Even if you end up owing money to the IRS, knowing the amount due sooner gives you more time to come up with the…
Read MoreEarly Warning Signs of a Tax Problem
There are many factors that can cause an unfavorable tax swing leaving you with a surprising tax bill in the spring. Here are six warning signs that you might have some unexpected taxes waiting for you. You didn’t update your W-4 You may have noticed a change in your tax withholdings earlier this year. These…
Read MoreRetirees Should Check Withholdings…or Else…
According to a recent announcement by the IRS, retirees might not be withholding enough for taxes this year. This is due to vast tax changes in 2018, making old withholding levels obsolete. The IRS is urging retirees to check their withholdings now and make adjustments if needed to avoid penalties. Could it be you? How…
Read More5 Annual Tax Essentials
The more things change the more they stay the same. This is especially true when it comes to reviewing your tax situation. Mark your calendar to review these essential items each year to ensure you are not missing something that could cause tax trouble when you file your tax return: Required minimum distributions If you…
Read More6 Last-Second Money-Saving Tax Moves
As 2018 winds down, there is still time to reduce your potential tax obligation. Here are some ideas to make your 2018 tax return less of a burden on your wallet: Accelerate expenses. Individual taxpayers are on the cash basis for income tax purposes. This means your income is taxable when you receive it and…
Read MoreKeys to Creating a Satisfying Retirement
You’ve done your retirement homework. Your assets are reviewed, you know your financial needs, and your retirement tax plan is in place. Are you ready to enjoy retirement? Probably, but not without a plan to address what happens to many after they retire – boredom. Here are some ideas. Go to school. Many colleges and…
Read MoreTime to Launch Your Tax Strategy
Consider conducting a final tax planning review now to see if you can still take actions to minimize your taxes this year. Here are some ideas to get you started. Assess your income. Begin by determining how your income this year will compare to last year. Then apply any tax implications this income change may…
Read MoreHedging Against a Trade War
As a small business owner, the words “trade war” and “tariff” can be unsettling. When cost uncertainty is on the horizon, you will want to be prepared as much as possible. Here are some ideas to help you navigate your business through a possible trade war. Tariffs defined A tariff is a tax on imports…
Read MoreGive your Credit Score a Boost
Your credit score is one of the most important aspects of your financial health. It is used by potential lenders, landlords and even employers to analyze your financial situation in one way or another. Here are some tips that might help you improve your score: Review your credit report and, if necessary, fix errors. You…
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