Year-End Tax Planning Tips Tax Tip 1provides a snapshot of key strategies geared toward helping you achieve your planning goals. It includes ideas to help you reduce your current year’s tax as well as any potential future taxes. While this chart is not all-inclusive, it is a good starti...
There's no reason to let the government hold onto that money for you. Another benefit: Once you figure out your 2023 taxes, you can plan your finances better for 2024. Those changes can be as simple as updating the tax withholding on your paycheck to long-range planning about your state...
estate planning for millennials in "Future Millionaires' Guidebook" A collection of Kay Bell stories is included in "The Gambler's Guide to Taxes: How to Keep More of What You Win" Tax Reading Room You also might enjoy these other tax tips from some of my tax-writing colleagues: J...
Your tax refund is based on how much tax you pay in excess of the tax you owe. Basic tax planning strategies aimed at reducing the amount of your taxable income may increase the gap and thus your refund. In some cases, these strategies benefit you in oth
Video: Tax Planning for College Students Written by a TurboTax Expert • Reviewed by a TurboTax CPAUpdated for Tax Year 2022 • October 31, 2023 2:42 PMOVERVIEWThere’s a few key things to know about how the ending of the student loan payment freeze can affect your taxes; plus, ...
Tax FilingPersonal FinanceBusiness FinanceTax PlanningRetirementSee all articles FEATURED TaxAct’s Guide to Your 2023 Taxes Now that tax season has arrived, we thought you could use a hand navigating your 2023 taxes. So, we put together a guide. It covers tax changes, deductions to take advan...
Tax-planning strategies to consider by Tax Day Maximize all other tax-deferred savings accounts You can potentially help reduce your taxable income by funding your tax-advantaged accounts, and you have until Tax Day to make contributions for the 2024 tax year. Maximum contribution limits for 2024...
to plan for what happens to your share of the business if you can’t continue running the company. “It’s about having that foresight and that planning in place to deal with these possible eventualities that could really affect the business,” says Waters. “There are many d...
Wider tax brackets, a higher standard deduction, and expanded saving opportunities may help create new tax-saving possibilities for 2024. Consider tax-planning strategies throughout the year, like maximizing credits and deductions and using tax-smart investing strategies. A tax advisor and financial pr...
Here are five tax planning tips to stay on top of payments throughout the year. 1. Track Your Profits and Expenses It can be easy to get caught up in the daily flow of work, but if you can set aside some dedicated time each month to organize profits and expenses, your taxes will ...