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Time to Start Your Tax PlanningLowering your tax bill in 2025 works best as a planned event. So to breathe a sigh of relief come next April, consider a review of these four areas as you create and implement your tax plan for 2025.
Combining Business and Personal TravelIf you run your own company and travel for business, you may be tempted to combine work with pleasure. That's okay, as long as you don't trip up on tax rules. Your tax professional can advise you as to what you can or cannot do.
Estate Planning: Tips for Every FamilyCreating an estate plan puts you in charge of your family's financial future, regardless of your income level. Here are three ways to protect your family's future by creating an estate plan.
Easing Into Retirement or Semi-RetirementRetirement is not a single event. It is a process that begins long before you leave work and continues for the rest of your life. Here are some tips on how to transition into retirement and beyond.
Dollar-Cost AveragingTrying to predict the market isn't usually a recipe for success. In contrast, a slow and steady investing approach may help you use market fluctuations to your advantage as you invest for long-term financial goals.
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MAY 2025 Q & AQ: How do I begin accepting credit card payments from my customers? A: First, analyze how many credit card transactions you might receive each month and whether they will be online, in-person, or over the phone. Also, think about if you plan to accept all cards (Mastercard, Visa, Discover, American Express) because processing fees vary by card type.
Amended Tax Return TipsIf you filed your 2024 tax return already but realized you missed some information, you can amend your return by filing Form 1040-X. An amended return is necessary for things like, forgetting to claim taxable income, or claiming the wrong tax filing status. But before filing your amended return, ensure the IRS has already processed your original return. This will help ensure the IRS doesn't get your original and amended returns mixed up. The "Where's My Refund?" tool on IRS.gov is the most reliable and convenient way to track your refund. You can access it directly at: https://www.irs.gov/refunds. Be sure to attach any documents or tax forms that support your changes. And check to see if you have to amend your state return. Contact your tax advisor for assistance. U.S. Inflation StatisticThe U.S. inflation rate has been recorded since 1913 and is typically measured using the Consumer Price Index (CPI) from the U.S. Bureau of Labor Statistics (BLS), reflecting the year-over-year percentage change in the cost of a basket of goods and services. From 1925 to 2024, the average annual inflation rate is approximately 3.1%. Following are long-term high and low years. Highest Rate: 17.8% Lowest Rate: -10.3%
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