This is a very popular question in our tax office and we get it often. “I have not filed my taxes for three years. Am I in trouble or what should I do?” Well, it is important to understand your … Continue reading
11 September 2019
What do I do if I am behind a few years in filing my Income Taxes?
5 September 2019
I filed my Income Tax Extension but when is my Tax Return Due?
We get many questions each year around this time that go like this: “OK Stu, I know you filed an extension for my business and personal returns, but when are the filings due?” This is a BUSY time of year … Continue reading
The House of Representatives has passed a bill with nearly 100% of the votes which may change the way we plan for retirement. There are three key changes which will come into play if the current version of the bill … Continue reading
25 July 2019
Income Tax cutting strategies for Mid Year 2019
While many tax preparation firms go on vacation after tax season ends, my firm stays busy year round helping clients plan their taxes, budgets, and overall financial lives. There are often many things one can do to pay less taxes … Continue reading
17 February 2019
Taxation of Social Security Benefits
At one time, all Social Security retirement benefits were tax free. However, the tax rules are not quite as simple today; instead, benefit recipients fall into one of three categories: For most recipients, benefits remain tax free. For some recipients, … Continue reading
15 February 2019
Steps in Developing a Financial Plan
In order to create a financial plan having a substantial chance of success, the financial advisor must perform the following steps: Obtain all relevant client information necessary to become sufficiently knowledgeable about the client and his or her goals. Evaluate … Continue reading
13 February 2019
Avoid Being Double Taxed on Reinvested Dividends
I get a lot of questions every tax year about capital gains taxes and what the word “basis” means. The basis of an asset is the purchase price paid. One thing that is easy to miss is the tax paid … Continue reading
11 February 2019
The 20% Passthrough Tax Deduction for Small Businesses (IRS 199A)
At Erock, we have been consulting with small business owners since the late 1980s. Many people have run their businesses as non incorporated Schedule C filers, while others have formed partnerships or S-Corporations for many differing reasons. These “passthrough” taxpayers … Continue reading
8 February 2019
The Timing of Roth IRA Conversions
The taxation of Roth conversions will take center stage in 2019 for more people as tax rates have been lowered across the board making it more advantageous for many folks to make the transfer from a traditional IRA to a … Continue reading
4 February 2019
Income Tax Filing 2018 Getting Ready for Your Tax Preparer
Welcome to 2019 and the 2018 tax filing season. Let’s make it a great year! Here are a few things you need to do to get ready to prepare your taxes for 2018. It is very important to get organized … Continue reading
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