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Service Animals and Medical Expense Deductions — What Qualifies Under IRS Rules?
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Service animals are not just loyal companions—they can be lifelines for individuals living with physical or mental disabilities. The IRS recognizes this and allows certain expenses related to service animals to be deducted as qualified medical expenses
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Your Financial Support System: The Roles of a CPA, Bookkeeper, and Wealth Advisor
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Think of your financial team the same way you think of your healthcare team — you wouldn’t ask a dermatologist to set a broken bone or expect your primary care doctor to perform heart surgery. Each specialist has a specific role. In the same way, a CPA, bookkeeper, and financial advisor each provide expertise in…
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The Health Insurance Deduction for Self-Employed
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This deduction allows you to reduce your federal taxable income by the cost of certain insurance premiums — even if the policy isn’t in the business’s name.
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How to Avoid Surprise Tax Bills with the Premium Tax Credit
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The premium tax credit (PTC) is designed to make health insurance affordable, but if your income is higher than expected or your life changes, you may have to repay part or all of that credit with you file your tax return.
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Tax Strategies for Rental Real Estate Owners: 2025 and Beyond
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Whether you’re optimizing a single family home rental or scaling a portfolio of furnished Airbnbs, the best tax strategy depends on how your properties are used, how long you plan to hold them, and how actively you’re involved.
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Smart Strategies to Avoid IRS Penalties on Estimated Taxes
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Avoiding CP30 Notices: A Guide to Estimated Tax Planning
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Taxes Filed Late or Didn’t Pay? Expect IRS Penalties and Interest
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If you haven’t filed yet and expect to owe, submit an extension ASAP to dodge the hefty late filing penalty.
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The Art of Giving (Without Triggering Form 709)
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In 2024, you could gift up to $18,000 per person without filing a Form 709, thanks to the annual gift tax exclusion under IRC §2503(b). In 2025, that number bumps up to $19,000, or $38,000 if you’re married and splitting the generosity. You can gift to as many people as you want—friends, family, your dog…
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Backdoor Roth IRA Conversions: A Powerful Strategy for High Earners
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High-income taxpayers are often phased out of making direct Roth IRA contributions due to income limits, fortunately, the “backdoor Roth IRA” offers a legal workaround…
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RSU Tax Planning for Professionals with Equity Compensation
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If you’ve received Restricted Stock Units (RSUs) as part of your compensation, understanding how they’re taxed is essential to avoid unexpected bills and plan effectively. This article is especially relevant to professionals in the following industries: RSUs are taxed as ordinary income when they vest. The fair market value of the shares on the vesting…
