Discover 100+ IRS-Approved Tax-Saving Strategies to Maximize Your 2024 Refund
Are you worried about overpaying on your taxes this year? With tax season approaching fast, it’s easy to feel overwhelmed by the sheer number of strategies out there. But don’t worry, I’ve got you covered. In this blog, we’re diving into 100+ IRS-approved tax-saving strategies designed to help you keep more of your hard-earned money. […]
Biden Proposes Doubling Capital Gains Tax: What This Means for Your Taxes
If you haven’t heard yet, President Biden’s latest $7.3 trillion budget for FY 2025 is making headlines with some major tax changes. The President is pushing for a nearly doubling of the capital gains tax rate, along with a new minimum tax on billionaires and a hike in Medicare taxes. While the White House is […]
Start Now or Regret Later: 5 Simple Steps to Boost Your Tax Refund for Next Year
Now that the tax deadline is behind us, it’s easy to push taxes to the back of your mind. But here’s the thing – the best time to start planning for next year’s refund is right now. I know taxes aren’t exactly fun to think about, but taking a few proactive steps today can make […]
US Presidential Election 2024: Are Political Donations Tax Deductible?
As we gear up for the 2024 presidential election, something intriguing is happening: a surge in political donations, especially from new contributors. Just last month, when President Biden unexpectedly stepped down from the 2024 race and backed Vice President Kamala Harris for the Democratic nomination, the Harris campaign saw an explosive fundraising boost. Within hours, […]
US Lawmakers Criticizes Trump’s Plan to End Social Security Taxes, Calls It a ‘Fatal Mistake’
It’s a bold claim that former President Donald Trump recently put forward: ending taxes on Social Security benefits. On July 31, he took to social media to declare that “Seniors should not pay tax on Social Security,” a sentiment he echoed during an August 7 interview on Fox & Friends. As a tax professional, I’ve […]
US Presidential Election 2024 Showdown: How Trump or Harris Could Affect Your Tax Bill
As we approach the next presidential election, tax policy remains a hot topic. Both former President Donald Trump and Vice President Kamala Harris have outlined their economic plans, but there’s a fresh twist with Senator JD Vance’s bold new pledge to enhance the Child Tax Credit (CTC). This proposal could significantly impact millions of families […]
Enhanced Child Tax Credit: Senator JD Vance Proposes in Bold New Pledge
In a surprising turn of events, Senator JD Vance is back in the spotlight, this time pushing for a significant boost to the federal child tax credit (CTC). Just weeks after skipping a crucial Senate vote that could have enhanced the CTC—a move that drew criticism—Vance is now advocating for a 150% increase in the […]
Social Security Spousal Benefits: 5 Simple Ways to Increase It
Social Security spousal benefits can play a crucial role in your retirement planning, offering financial support based on your spouse’s earnings record. Whether you’re the primary earner or have never worked, understanding how to maximize these benefits can significantly impact your retirement income. In this guide, I’ll walk you through five simple strategies to help […]
Capital Gains Tax Rates: What’s New in 2024 Compared to 2023?
Understanding capital gains tax can be a bit tricky, especially when different rules apply based on how long you’ve held an asset. If you sell stocks, mutual funds, or other capital assets after holding them for more than a year, the long-term capital gains tax rate will be 0%, 15%, or 20%, depending on your […]
Project 2025: Trump’s Tax Plan and Its Effect on Low-Income Families
When we hear about tax reforms, it often feels like we’re being asked to choose between two bad options. On one side, you have politicians promising tax cuts that seem too good to be true, and on the other, a complex tax code that only an accountant could love. But what if I told you […]