by briesterer | May 18, 2023 | Financial Planning, Tax & Accounting
Estimated tax is the method used to pay tax on income not subject to withholding, such as income from self-employment, interest, dividends, alimony, and rent and gains from the sale of assets, prizes, and awards. You also may have to pay an estimated tax if the income...
by briesterer | May 18, 2023 | Financial Planning, Tax & Accounting
Tuesday, April 18, 2023, was the deadline for most taxpayers to file their tax returns. If you haven’t filed a 2022 tax return yet, it’s not too late. First, gather any information related to income and deductions for the tax years for which a return is required to be...
by briesterer | Apr 13, 2023 | Tax & Accounting
Obtaining a six-month extension to file is relatively easy, and there are legitimate reasons for doing so; however, there are also a few downsides. If you need more time to file your federal income tax return this year, here’s what you need to know. What Is an...
by briesterer | Apr 13, 2023 | Tax & Accounting
If you’re a savvy investor, you probably know that you must generally report any mutual fund distributions as income, whether you reinvest them or exchange shares in one fund for shares in another. In other words, you must report and pay any capital gains tax...
by briesterer | Apr 13, 2023 | Tax & Accounting
Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible for tax credits and deductions. Here’s an overview of the tax incentives designed to encourage employers to hire qualified people...
by briesterer | Apr 13, 2023 | Tax & Accounting
While the Net Investment Income Tax (NIIT) most often affects wealthier individuals, in certain circumstances, it can also affect moderate-income taxpayers whose income increases significantly in a given tax year. What Is the NIIT? The NIIT is a 3.8 percent tax on...
