Solar energy is growing, and California is leading the way. More and more Californians each year are installing solar panels on their home, businesses, and rental properties, and the energy cost savings can be substantial. There can also be substantial tax savings as...
Year-end is a good time to ensure you have proper documentation to substantiate your tax deductions. This is important as many banks start deleting online documentation that is over one year old. Background Two things have happened over the past ten years that have...
Just when you thought you had a firm grasp on all the tax changes, the IRS is making a dramatic change to the way tax withholdings are calculated on your paycheck. Form W-4, used to calculate your paycheck withholdings, has had a major overhaul, and the changes go...
Before 2019 comes to a close, take some time to review these essential items to ensure you are not missing something that could cause tax trouble when you file your tax return: 1. Take required minimum distributions (RMDs). If you are age 70½ or older, you need...
The IRS recently announced key tax figures for 2020, using information based on the Consumer Price Index published by the Department of Labor. Use these early figures to start developing your tax strategies for next year. Tax Brackets: There are currently seven...
Here are five tax saving ideas that can be used by most taxpayers. But act soon, there’s not much time left until our tax year comes to an end. 1 Make late-year charitable donations. Consider making donations with appreciated stock you have owned over one...
