The Motley Fool

MARCH 4, 2024

Image source: The Motley Fool/Upsplash There aren't many strategies you can use to save money on your taxes after the end of the year. But one big way to save on 2023 taxes -- even though it's already 2024 -- is by taking advantage of the traditional IRA deduction. You can take advantage even if you've already filed your taxes, too.

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The Motley Fool

MARCH 14, 2024

Image source: The Motley Fool/Upsplash Tax season is upon us -- as I write this, there's just a little over a month left until the April 15 tax-filing deadline. I was extremely motivated to get my taxes done ASAP this year, and in fact, submitted all of my paperwork to my accountant at the beginning of February.

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The Motley Fool

JULY 17, 2023

However, that was out of more than 134 million tax returns filed for tax year 2022. According to the tax agency, it identified over $31 billion in tax and financial crimes. Read more: we researched free tax software and put together a list of the best options here But what about you? If so, this article is for you.

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The Motley Fool

JANUARY 19, 2024

tax law, even when sailing in international waters. citizen, winnings are subject to federal income tax and are your responsibility to claim on your tax return. Read more: we researched free tax software and put together a list of the best options here When will you get a tax form? How much did I pay in taxes?

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The Motley Fool

DECEMBER 2, 2023

As the year comes to an end, it's time to think about which stocks to sell for tax-loss harvesting. in 2023, making it a prime candidate for tax-loss harvesting. The silver lining is that I can use its shares to reduce my tax liability for the year, which is a net positive. The company's shares have dropped by a whopping 43.5%

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Ballast Advisors

OCTOBER 6, 2023

Claim the Home Energy Audit Tax Credit: IRS Guidance Explained 7 Tips to Navigate Healthcare Over 65 What’s Happening in the World of Higher Education? 2022 Key Numbers Plan Your Finances as You Would Your Exercise 2021 Year-End Tax Tips 1 2 3 Next »

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Integrity Financial Planning

FEBRUARY 26, 2023

Tax season is fast approaching, so you may find yourself with some important tax questions. This article will cover some of the pitfalls of this process to make sure that you get the most out of your taxes this year. This may seem obvious, but a tax form is not valid without a signature, and it can be easy to forget. [6]

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Tobias Financial

JULY 5, 2024

In a recent CNBC article, our Wealth Advisor, Catalina Franco-Cicero, MS, CFP®, CTS , was quoted on the topic of tax strategies during periods of unemployment. However, a period of lower income in 2024 could present valuable tax planning opportunities.

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Covisum

NOVEMBER 21, 2023

In the dynamic landscape of retirement planning, the article " Managing Taxes in Retirement using the Effective Marginal Tax Rate " published in Advisor Perspectives by Dr. Wade Pfau and Joe Elsasser, CFP(R), provides valuable insights into tax-efficient distribution strategies. Read on for a summary of the article.

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Zajac Group

OCTOBER 17, 2024

For most people, tax time can be a headache—though for earners with traditional compensation packages, it can at least be fairly predictable (W-2 wages, withheld taxes, 401(k) contribution deductions, etc.). Each taxpayer receives a copy of their K-1, which they then use to complete their own tax return.

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Tobias Financial

AUGUST 27, 2024

Significant changes are on the horizon with the upcoming sunset of the Tax Cuts and Jobs Act (TCJA) at the end of 2025. Marianela explains the vision behind the TCJA, provides a detailed overview of how the sunset will impact income tax, estate and gift tax, and shares her insights on the necessary planning to prepare for these changes.

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The Motley Fool

OCTOBER 16, 2024

This article is intended for educational purposes only and is not legal advice. You should also know that your assets won't necessarily receive more favorable tax treatment if they're put into a living trust. So if your goal is to save on taxes or lower your beneficiaries' tax burden, a living trust generally won't help.

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FMG

FEBRUARY 20, 2024

For advisors, there’s one season out of the year that creates a buzz and is the perfect time to boost engagement: tax season. Why Tax Season is Great for Engagement Tax season is a hectic time for people because they want to ensure their taxes are done right. 5 Tips to Engage Prospects During Tax Season 1.

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The Motley Fool

SEPTEMBER 9, 2024

This article is intended for educational purposes only and is not legal advice. You should also know that placing assets into a living trust won't necessarily benefit you from a tax perspective. Assets you place into the trust are subject to whatever taxes you'd normally have to pay.

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Insight Partners

FEBRUARY 12, 2024

This article was originally published in May 2022. Apple calls it a service fee, but app creators are more likely to call it the Apple Tax. Epic Games wasn’t the first company to try and bypass the Apple Tax, and they won’t be the last. What is the Apple Tax? The Apple Tax, like real taxes, is dependent on where you are.

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Tobias Financial

AUGUST 22, 2023

The article sheds light on the often misunderstood concept of student loan forgiveness after 20 to 25 years in a repayment plan, which can lead many individuals to believe that they can simply walk away from their debt burden. Having a comprehensive financial plan that addresses these concerns is becoming more essential than ever before.

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Tobias Financial

OCTOBER 13, 2022

Another financial pain point that significantly impacts our budget is taxes. Whether you typically get a refund or owe a tax bill, there are several moves to consider to increase your chances of tax savings. . Watch how investors can turn stock losses into tax savings here: [link] .

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Private Equity Wire

AUGUST 17, 2023

Silver Lake mulls sale of $1bn tax-free shopping firm Global Blue Submitted 17/08/2023 - 10:29am Expressions of interest in Global Blue from potential acquirers have prompted private investment firm Silver Lake to considering a sale the of tax-free shopping solutions provider, according to a report by Reuters. Like this article?

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The Motley Fool

AUGUST 24, 2024

Image source: Getty Images I read an article in The Economist recently, headlined, "Baby-boomers are loaded. Make the most of tax-advantaged accounts such as IRAs or 401(k)s. HSAs are rare in that they offer a triple tax benefit. You can make tax-free contributions. Your investments then grow tax free.

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The Motley Fool

FEBRUARY 3, 2024

The precise amount would depend on the buyer's down payment, how much they pay for homeowners insurance, and the rate of property tax they're responsible for. In short, an escrow account holds the money that will be used to pay property taxes and homeowners insurance. However, we'll base all calculations in this article on a 6.25% APR.

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The Motley Fool

OCTOBER 16, 2023

This means I filed Articles of Incorporation with my state as well as some forms with the IRS to specify that I wanted to operate my company as a specific kind of corporation called an S-corp. Image source: Getty Images Many years ago, I incorporated my small business.

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The Motley Fool

DECEMBER 25, 2023

Image source: Getty Images If you itemize deductions on your tax return, you can claim a deduction for any charitable giving you've done throughout the year. Tax deductions The obvious reason to donate your car is to get a tax deduction. This doesn't just include money -- if you donate property, you can take a deduction as well.

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The Motley Fool

JULY 28, 2024

This article is intended for educational purposes only and is not legal advice. I value my privacy -- a lot You might think that there are special tax breaks to be enjoyed with a living trust. But I don't see any obvious tax benefit. For guidance on your personal situation, please contact a lawyer. But I knew it had to be done.

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The Motley Fool

MAY 24, 2024

businesses via corporate tax payments. Buffett went on to say that the government can change the corporate tax rate in any given year, and that he thinks "higher taxes are quite likely." Basically, he's alluding that if tax rates indeed rise, then Berkshire would be required to pay higher capital gains on Apple in the future.

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Tobias Financial

OCTOBER 11, 2022

The tax extension deadline is October 17. If you are looking to meet the October 17 tax extension deadline, it is important to make sure you do not skip any forms as you are trying to reach the finish line. To learn more, read the full article here: [link] . Watch out for these 3 common errors, advisors warn.

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A Wealth of Common Sense

APRIL 26, 2024

Here’s the lede from a Bloomberg article about rich people trying to avoid taxes in New York City: At New Jersey’s Teterboro and Long Island’s Islip airports, dozens of private jets destined for Florida take off at times such as 11:42 p.m. Meanwhile, tax attorne. or 11:54 p.m.

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The Motley Fool

JULY 1, 2024

This article is intended for educational purposes only and is not legal advice. And if you're thinking that a living trust could serve as a tax shelter of sorts for your family, think again. For guidance on your personal situation, please contact a lawyer. You'll need to decide if the higher cost of a trust is worth it.

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The Motley Fool

JUNE 30, 2024

Image source: Getty Images If you're anything like me, you've run across several articles discussing how smart it is to convert retirement savings to a Roth IRA after retirement. When we fund a traditional IRA, 401(k), or other retirement account, it's typically funded with pre-tax dollars.

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Hedgestone

JULY 11, 2023

As a business owner, you may be wondering if you can sell your business if you owe taxes. The answer is yes, but it is essential to understand the implications of selling a business that owes taxes. Taxes can be a significant factor in determining the value of your business, and they can also complicate the sales process.

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The Motley Fool

SEPTEMBER 1, 2024

During a shareholder conference back in May, Buffett strongly suggested that he thought changes to the tax code were on the horizon, which subsequently inspired some of his decision-making to take gains off the table. The investment firm trimmed its position in Apple by about 13% earlier this year as well.

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The Motley Fool

AUGUST 29, 2023

This article is intended for educational purposes only and is not legal advice. And please do use an experienced tax/estate attorney who can assess your unique situation and guide you away from pitfalls. For guidance on your personal situation, please contact a lawyer.

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The Motley Fool

AUGUST 30, 2024

Maximize tax-advantaged savings If you're still working, there could still be time to take advantage of tax-advantaged retirement accounts. Even a few years of tax benefits is better than nothing. Traditional IRAs can reduce your tax bill today. If 401(k)s are not an option, there's almost certainly an IRA to suit you.

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The Motley Fool

JULY 22, 2023

The amount of time doing mundane tasks unrelated to my actual job When I started my freelance writing business, I expected I would get to spend my days writing interesting articles about the subjects I am passionate about. And I definitely get to do a lot of that. But, things ended up being a lot more complicated.

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The Motley Fool

AUGUST 26, 2024

Image source: Upsplash/The Motley Fool I recently wrote an article about the Costco Tire Center, and it dawned on me that I probably need a new set of tires myself. Now, I don't want you to leave this article thinking that Costco is a rip-off, because that's not at all what I'm saying. But boy, it isn't for me.

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The Motley Fool

APRIL 21, 2024

This article is intended for educational purposes only and is not legal advice. Consult a knowledgeable tax attorney to be sure. For guidance on your personal situation, please contact a lawyer. That could lessen their value as a tool for asset protection in your case. Or it might not.

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The Motley Fool

SEPTEMBER 10, 2023

Just as the sun rising in the Eastern sky every day is a fundamental truth, every prominent Social Security article on the internet with a comments section is destined to be filled with claims that the program's shaky foundation is the result of "Congress stealing trillions from Social Security and not paying interest on what they've taken."

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The Motley Fool

NOVEMBER 1, 2023

Meanwhile, others are considering an EV purchase thanks to expanded and updated tax credits. According to a recent article in The New York Times , in most cases, EVs contribute far less carbon emissions than gas-powered vehicles do. You can view a complete list of qualifying vehicles in The Ascent's EV tax credit guide.

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