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Want to save money on your tax bill? Ciuni & Panichi is constantly looking for ways to assist you. Our Tax Group is always available if you have any questions. To take a 2014 charitable donation deduction, your gift must be made by Dec. 31, 2014. According to the IRS, a donation generally is “made”…
Expenses and Your Tax Liability Smart timing of deductible expenses can reduce your tax liability, and poor timing can unnecessarily increase it. When you don’t expect to be subject to the alternative minimum tax (AMT) in the current year, accelerating deductible expenses into the current year typically is a good idea. Why? Because it will…
Review gains and losses to see if action by Dec. 31 can save on taxes. Appreciating investments that don’t generate current income aren’t taxed until sold, deferring tax and perhaps allowing you to time the sale to your tax advantage. Review your year-to-date gains and losses now to see if selling any additional investments by…
Any chance they will be extended? It may feel like a recurring nightmare but here we are again near the end of the year and we still do not know what the key tax provisions will be. Will the lame-duck Congress tackle the issue? Find out what you need to do to be prepared. With…
How higher-bracket taxpayers can take advantage of the 0% long-term capital gains rate. The long-term capital gains rate is 0% for gain that would be taxed at 10% or 15% based on the taxpayer’s ordinary-income rate. If you have loved ones in the 0% bracket, you may be able to take advantage of it by…
You can gain tax benefits by donating stock Is there appreciated stock in your portfolio that you would like to sell? Unsure about paying more on your tax return? Then making a charitable contribution instead might save you money, if you donate it to charity rather than making a cash gift. Appreciated publicly traded stock…
Be careful with your tax planning. Have you gotten some big gains this year? You should consider looking for unrealized losses in your portfolio and possibly selling off those investments before the end of the year to help offset those gains. This can reduce your 2014 tax liability. Careful tax planning can help, because if…
Alternative Minimum Tax: Triggers could boost your tax bill if you’re not careful. A fundamental tax planning strategy is to accelerate deductible expenses into the current year. This typically will defer, and in some cases permanently reduce your taxes. But beware of the exceptions. One is if the additional deductions this year trigger the alternative minimum…
Are you concerned with tax planning and your stock-based compensation? Ciuni & Panichi’s group of seasoned tax planning experts can help answer all your questions. If you’re an executive or other key employee, you might be compensated with more than just salary, fringe benefits, and bonuses. You might also be awarded stock-based compensation, such as restricted…
Want to Pay Fewer Taxes? At Ciuni & Panichi, Inc. our tax professionals are always looking for ways to help you reduce your tax burden. Here is another idea you can implement today. Expenses that may qualify as miscellaneous itemized deductions are deductible for regular tax purposes only if they exceed (in aggregate) two percent of your…