Tax Strategies
for Success ...
Offering Negotiation and Resolution in Collection Matters, Appeals, Audit Assistance, Client Representation, and Much More.
* Formally known as Savignano accountants & advisors
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Last Minute Tax Savers
For the most part, the IRS operates on a calendaryear basis. It's too late, for example, to make deductible charitable contributions for 2023-only donations made by December 31 qualify. But there are some exceptions that, along with reducing your 2023...
Other Tax Matters
PENALTIES : Failing to timely file correct information returns can lead to stiff fines. The basic penalty for returns due in 2024 is $310 per Form 1099, W-2, etc. A lesser penalty is imposed when the information returns are corrected...
Pocket Tax-free Cash
If you own a vacation home, you may have pondered renting It occasionally to help offset some of the costs. If you do this, pay attention to the 14-day rule. The proceeds from a personal residence that is rented out...
Standard Deduction/itemize
As you're filling out your 2023 Form 1040… You may ask whether you should itemize on Schedule A or take the standard deduction. Most filers take the standard deduction because it's higher than their totalitemizations. But not all. Take people...
Smart Money Moves for the New Year !
Smart Money Moves for the New Year ! Smart Money Moves for the New Year Setting a financial goal is the second most common New Year's resolution (right behind improving personal health and fitness). We've rounded up the best retirement-focused...
Buying medicine from abroad can come with a hefty tax price
The cost is generally not deductible as a medical expense on Schedule A. That's because federal law bars importing many drugs from other countries. For that same reason, the cost of these medicines cannot be reimbursed by HSAs or flexible...
Maximizing Your Tax Savings: Strategies for Success
When it comes to taxes, every penny saved counts. Whether you're a business owner or an individual taxpayer, there are numerous strategies you can implement to reduce your tax liability and keep more of your hard-earned money in your pocket....
“Navigating Tax Collection Matters: Negotiation and Resolution Strategies”
Dealing with tax collection matters can be a stressful and overwhelming experience. Whether you owe back taxes or are facing a tax lien or levy, it's important to know that you have options for negotiating and resolving these issues. With...
“Navigating IRS Audits: Strategies for Success”
Facing an IRS audit can be a daunting and intimidating experience. However, with the right strategies and preparation, you can navigate the audit process with confidence and achieve a successful outcome. From organizing your financial records to understanding your rights...