IRS Tax Planning Ideas, Tips & News

In recent weeks, many of our posts have addressed the need for taxpayers to consult with an experienced tax professional for tax preparation and tax planning strategies before making a financial … [Read more...] about IRA USED TO PURCHASE VACATION HOME OR RENTAL PROPERTY

While most persons would be hesitant to represent themselves in court, there are those taxpayers who not only prepare their own tax returns, but decide to represent themselves when audited by the IRS. … [Read more...] about ARE IRS AGENTS ABUSING TAXPAYERS FOR COMPENSATORY REASONS?

Tax preparation and tax planning strategies need to be considered when converting a traditional IRA to a Roth IRA. When a taxpayer converts a traditional IRA to a Roth IRA, the taxpayer is increasing … [Read more...] about CONVERTING TRADITIONAL IRAs TO ROTH IRAs – MEDICARE PLANNING

We have discussed in prior posts about the importance of thinking of tax preparation as more than an annual tax compliance function, but to view it as one step in your tax planning strategies to … [Read more...] about IRA INVESTOR BEWARE –PARTNERSHIP TAX TRAP

Tax preparation and tax planning strategies are unfortunately often an after-thought by the taxpayer. What every tax professional detests is telling a client that had the client notified the tax … [Read more...] about HOW TO USE GRANDMOM’S 529 PLAN CONTRIBUTIONS

In our March 7, 2012 blog post, we discussed a tax preparation and tax planning strategy whereby individuals who desire to make a Roth IRA contribution but cannot do so because of the amount of income … [Read more...] about WATCH YOUR STEP!! IRS CHALLENGING TRADITIONAL TO ROTH IRA ROLLOVER?