Category: Tax Planning

2018 Tax Planning: The Bunching Strategy for Itemized Deductions

In light of the 2018 tax reform, many clients may find the “bunching strategy” advantageous when it may not have benefited them in the past. This strategy is geared towards taking advantage of certain personal expenses that can be itemized on Schedule A of your tax return. The IRS either gives taxpayers a “standard deduction” […]

Read More →

The New Tax Law & Tips in Preparing for 2018 Tax

With your 2017 Federal and TN Tax returns filed, 2018 and beyond offer changes in both Federal and TN tax law. Here are some highlights of both tax systems and the major items that will affect many of our clients. Tennessee Tax While Tennessee does not have a state income tax, we do still have […]

Read More →

Estimated Payments – Don’t Let the IRS Penalize You!

Quarterly Tax Payments As Ben Franklin once said, “In this world nothing can be said to be certain, except death and taxes”.  The IRS expects you to pay taxes on the income that you receive during the year, whether from a corporate job, self-employment, or other sources. The IRS requests that you make tax payments to them as your […]

Read More →

Tax Savvy Investing in Nashville

Tips for Tax-Savvy Investing

We would all like to have the problem that high income earners do: how do I reduce my yearly tax burden while maximizing long-term investing strategies?  While the U.S. marginal tax brackets are still historically low, the top brackets for income and investment earnings did increase for the 2013 tax year and going forward.  Some […]

Read More →

Should I convert part or all of my IRA to a Roth IRA?

Let’s first review what you need to know to make this decision. To begin, you need to understand what your current marginal tax bracket is and how the amount of income tax that you pay is calculated by the IRS. The “marginal” tax bracket is your highest tax rate. In other words, each of us […]

Read More →