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The New $7,500 Tax Credit That Isn’t
A highly-touted tax credit in the recently-passed Inflation Reduction Act is meant to incentivize Americans to purchase electric vehicles or other clean burning fuel vehicles. The bottom line, however, is that practically speaking YOU CAN’T GET IT. Why few credits… -
Tax Preparer Red Flags
Tax returns. Let’s be honest, most people cringe at the thought of dealing with them. There can be a lot of emotions when filing your taxes…frustration, anger, and anxiety. These reactions can come when gathering all the necessary documents, worrying… -
New Electric Vehicle and Other Energy Credits
Tax incentives for purchasing clean (electric) vehicles and installing high efficiency home improvements are some of the featured provisions in the recently-passed Inflation Reduction Act (IRA). Here’s a closer look at some of the bill’s tax provisions regarding the new… -
Effective and Marginal Tax: Know Yours!
Marginal Tax Rates and Effective Tax Rates: Understanding the difference between these two tax rates. The tax code is filled with terms we rarely use in everyday conversation. Two of the more common are Marginal Tax Rates and Effective Tax… -
Tips to Protect Your Social Security Number
Minimize the risk of having your social security number fall into the hands of the wrong person. Very few things in life can create a higher degree of stress than having your Social Security number (SSN) stolen. This is because,… -
Student Loan Forgiveness Plan: Tax Consequences and California’s Response
The Biden administration recently announced their plan for student loan forgiveness. In short, this plan states that those with student loans may be eligible to receive forgiveness up to $20 thousand, depending on the type of loan you received. You… -
Reduce Your Medical Expenses
Save tax dollars when paying medical bills! Tax smarts that make a difference. Medical expenses are on the rise. According to the Milliman Medical Index, the average family of four on an employer-sponsored plan will spend $30,260 on healthcare in… -
401(k) VS Roth IRA
Saving for retirement is important, since the average American spends 20 years in retirement. Experts estimate that you will need about 70 percent of your pre-retirement income to maintain your standard of living when you stop working, unless you want… -
2023 Health Savings Account (HSA) Limits
New contribution limits are on the horizon. Contribution limits for the ever-popular health savings account (HSA) are set for 2023. The new limits are outlined here with current year amounts noted for comparison. So plan now for your 2023 contributions…. -
Receive Tax-Free Income – The Augusta Rule
How The Augusta Rule works for taxpayers who own a home in the United States to receive a tax-free income. This article has been updated and is accurate as of August 2022 What is the Augusta Rule? The Augusta Rule,… -
Who are the Best Accountants in California?
Your business is unique with specific needs. Because of this, tax preparers and bookkeepers often are not a “one size fits all.” This is why we have comprised a list of accountants that specialize in all sorts of different businesses…. -
Hidden Back to School Tax Deductions
Summer is coming to a close and the back-to-school advertising blitz is underway. Hidden in some of those school expenses are tax deductions you can take advantage of. Here are some ways you can save: Finally, don’t forget to review…