If you’re a business owner, your company is likely your most valuable asset. To ensure it survives after you’re gone, you first need a succession plan that will provide a smooth transition of the business to one or more of your children (assuming you want to keep it in the family). In addition, you need an estate plan that effectively addresses the tax impact of transferring your ownership interests to the next generation.
Extended Return? Don’t Wait—File It Before the Deadline!
If you requested an extension to file your 2023 tax return, you probably know that the extended deadline is coming up soon, on October 15. If you have the information you need, consider filing now. There’s no advantage to waiting, and last-minute filing may lead to worry.
Home Sale: Failure to Plan May Raise Your Tax Bill
As the saying goes, there’s nothing certain in life except for death and taxes. But when it comes to selling your home, proactive tax planning can help you reduce your federal income tax bill.
An Employee Benefit with Possible Magnetic Power
Employers seeking to attract new recruits and retain talent should consider offering educational assistance programs to their employees. The plans aren’t new, but they temporarily offer greater flexibility in how they work.
September 2024 Tax Due Dates
September 16 Individuals: Pay the third installment of 2024 estimated taxes (Form 1040-ES), if not paying income tax through withholding or not paying sufficient income tax through withholding. Calendar-year corporations: Pay the third installment of 2024 estimated income taxes, completing …