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

While the upcoming holidays are understandably at the forefront of many peoples’ minds, the end of the year marks an opportunity to start preparing for your 2023 annual taxes (due on April 18, 2024) and your tax strategies in the year ahead. Tax preparation and planning are essential at any time of the year, but...Read More

There is a wealth of options when it comes to tax planning strategies for college students, which can start years before a child starts filling out their college applications. Tax planning and preparation can go a long way to lighten the financial burden of a college education. We will also explore different options, like tax-free...Read More

The April 15th  Tax Day for  2024 may be months away, but it’s never too early to start employing smart strategies that will help minimize your taxes throughout the year. This can help you ensure no unpleasant surprises when it’s time to file.  Tax preparation and planning that occurs all year long results in the...Read More

With the easing of the global pandemic coupled with a rise in inflation, 2022 saw several broad financial changes that naturally resulted in changes to Americans’ annual taxes. Some of these changes were beneficial. For example, a shift in the tax brackets due to inflation or an increase in the standard deductions. Additionally, other changes...Read More

The end of January marks the beginning of the tax preparation and planning season. There have been several noticeable changes that taxpayers should know before they start to collect and submit their paperwork. Some things to look out for are form changes, new tax brackets, and more. Here’s a sample of the new-in-2022 things to...Read More

What is your tax plan for 2022? Because it’s that time of year again. This year, just like any year, if the IRS audits you, you will need to have supporting documentation. But the IRS is dealing with backlogs of unprocessed tax returns that date back to 2020. So, like you, they are also wading...Read More

Are you a US citizen living abroad? Are you confused and not sure what the regular filing procedures are for taxes in 2022? A tax advisor will make a world of difference. Are you looking for a professional tax advisor to help you with your Federal Income Tax Returns? Saddock Advisory has a team of...Read More