Spring brings a flurry of tax season stress for most individuals and business owners. But in reality, effective tax planning shouldn’t be saved for just one time of year. Tax planning is a year-round process that can minimize liabilities, reduce risk, and uncover new financial opportunities. Why is Tax Planning Important? Staying proactive with your...Read More

Strategic tax planning should occur all year long, but it heats up during the first few weeks of the year when the April 15 filing deadline starts to loom.   An expert in tax planning like Saddock Financial Partner can ensure that you successfully weather most of the changes for the 2024 and 2025 tax years....Read More

The cost of earning a college degree remains an ever-present financial challenge for many families. In 2024, the average college tuition and fees climbed by around 5.5% at private schools and about 2 to 2.5% at public schools. Accordingly, it’s understandable that 93% of parents are concerned about inflation and increasing college costs.   The good...Read More

As college costs continue to rise, it’s important to explore tax planning strategies and education credits that can help manage tuition and expenses more effectively. According to 2024 statistics, the average cost of attending an in-state college is a total of $108,584 for four years, and that number climbs to $182,832 for out-of-state students and...Read More

One advantage of tax planning is that it provides more income throughout a lifetime, even and especially during your retirement years. Tax planning and management entails outlining the best tax strategies now and for years into the future. Therefore, when it comes to this in-depth tax planning, Social Security benefits and taxes should always be...Read More

Many individuals and businesses conduct tax planning initiatives of some sort before the annual mid-April federal filing deadline. From jotting down work expenses to logging away invoices and vendor payments, the importance of tax management in tax planning is readily apparent, even if it’s just to save a little time when it’s time to file...Read More

The importance of tax planning for small business owners extends well past the April 15 deadline. Instead, it’s a year-long process that requires in-depth financial planning and tax strategies that will save owners money for the long term.  An expert in small business accounting services like Saddock Financial Partners can help create this roadmap of...Read More

One of the most significant advantages of tax planning is making the most out of the deductions and credits at your disposal. Additionally, it’s important to ensure that your annual taxes will result in a hefty federal and/or state refund.   Anticipating that check or direct deposit is arguably the best part of tax season for...Read More

Whether you are an employed individual or a business owner, a tax professional can uncover the benefits and advantages of tax planning throughout the year, not just in the weeks leading up to the April 15 filing deadline.  However, different professionals often offer different types of accounting services.  Therefore, enlisting a tax professional that is best...Read More

The Internal Revenue Service (IRS) began to officially accept and process tax returns on January 29, 2024. Therefore, as the April 15 deadline approaches, it’s an excellent time to take stock of your annual returns and determine if there are any opportunities to save money and time.  Tax planning and preparation is a continual initiative....Read More