Individual Tax

All About Charitable Contributions

What do Goodwill donations and cash contributions to your favorite non-profit organization have in common? Both transactions can help you save money on your federal tax return! When you receive our Individual Tax Organizer in January, there is a page dedicated to your cash and non-cash contributions. We ask you to provide us with information [...]

Roth IRA Conversions

We speak with a lot of folks saving for their retirement and they often ask us if we think they’re saving enough.  "How much is enough" is a question for another day, but we do want to talk about an interesting retirement savings strategy that many folks are utilizing - Roth IRA Contributions. We all [...]

Profit Motive

When taxpayers have high W-2 earnings (in excess of $150,000 for example) coupled with large losses from self-employment activities, it's like waving a big "Audit Me" sign! The IRS' rationale for scrutinizing a tax return with these conditions is that if the taxpayer has substantial income unrelated to the self-employment activity, the taxpayer is more [...]