» Taxable Income
Retirees: Avoid an Unexpected Tax Bill on Your Retirement Income
January 11th, 2019
Many retirees are surprised to learn that part of their Social Security benefits may be taxable. After paying Social Security taxes for a decade or longer, most people do not realize that they may owe state and federal income taxes on their Social Se…
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Benefits of Tax Planning
November 15th, 2018
Tax planning is essential to lowering your tax bill. Meeting with a tax professional and reviewing your tax status before the end of the year allows you to develop tax strategies to take advantage of tax saving measures, before it’s too late. Altho…
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Do You Need to File a Tax Return if You are Under 18?
September 12th, 2018
You just started working your first job. Now, it is tax time. Do you need to file your taxes? It seems a lot of work because you did not make that much money. A surprise to many people, the IRS does not consider age as a factor regarding whether you…
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Hobby Income: Is It Taxable?
September 5th, 2018
All hobby income is taxable. Simply stated, if you make money from a hobby or business, you are required to report it to the IRS. To determine how to appropriately report and classify your income, you must first determine if the IRS considers your ho…
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