by Lori Bowden | Feb 1, 2025 | Individuals, Newsletter, Taxes
It’s time again to start thinking about getting your tax return prepared. Here are some quick tips you can use to help speed tax processing and avoid hassles. Gather all documents needed to prepare an accurate return, including W-2s, 1099 forms, statements of interest...
by Lori Bowden | Jan 4, 2025 | Individuals, Newsletter, Taxes
The 65-day rule under Internal Revenue Code 663(b) allows trustees of a trust to treat distributions that are made within the first 65 days of the trust’s tax year as if they were paid or credited on the last day of the preceding tax year. For 2025, the 65th day...
by Lori Bowden | Jan 1, 2025 | Individuals, Newsletter, Taxes
Right now, you may be more focused on what you’ll owe (or receive as a refund) when you file your 2024 tax return in April than on tax planning for the new year. However, as you work through your annual tax filing, you should familiarize yourself with amounts that may...
by Lori Bowden | Dec 4, 2024 | Business, Individuals, Newsletter, Taxes
Having won control of the White House, the Senate and the House of Representatives, Republicans will have the opportunity to move forward their vision for federal taxes. What might this mean? First, many provisions in President-Elect Donald Trump’s signature tax...
by Lori Bowden | Dec 2, 2024 | Individuals, Newsletter, Taxes
As the end of the year approaches, many people give more thought to supporting charities they favor. To avoid losing valuable charitable deductions if you itemize, you’ll need specific documentation, depending on the type and size of your gift. Here’s a breakdown of...
by Lori Bowden | Dec 1, 2024 | Individuals, Newsletter, Taxes
Many Americans have become victims of natural disasters in 2024. Wherever you live, unexpected disasters may cause damage to your home or personal property, creating a “personal casualty loss.” This is defined as damage from a sudden, unexpected or unusual event, such...
