by Logan Creek Creative | Jan 11, 2022 | TAX TIPS
WASHINGTON — The IRS urges taxpayers to check into their options to avoid being subject to estimated tax penalties, which apply when someone underpays their taxes. Taxpayers who paid too little tax during 2021 can still avoid a surprise tax-time bill and possible...
by Logan Creek Creative | Dec 27, 2021 | TAX TIPS
Now is the time to take action on reducing next year’s tax bill. One area to help reduce your tax obligation is leveraging your kids to the fullest by understanding the kiddie tax rules. The term kiddie tax was introduced by the Tax Reform Act of 1986. The rules...
by Logan Creek Creative | Dec 10, 2021 | TAX TIPS
Plan Your 2022 Retirement Contributions As part of your planning for next year, now is the time to review funding your retirement accounts In 2022. With the cost of living calculations and increases in inflation, higher phaseout limits make many more taxpayers...
by Logan Creek Creative | Dec 1, 2021 | TAX TIPS
At the end of the year you will be inundated with commercials to donate a vehicle to charity. While it is one of the biggest contributions a taxpayer can make, if not done carefully, the tax deduction of a donated vehicle could be a lot lower than you think. The rule...
by Logan Creek Creative | Nov 15, 2021 | TAX TIPS
While each retirement plan has similar early withdrawal penalty exemptions, they are not all alike. Knowing these subtle differences within 401(k) plans can help you avoid a 10 percent tax penalty if you take money out of the plan prior to reaching age 59 1/2. This is...
