Tax Planning Archives

Why You Need a Financial Plan Part 2 – Maximizing Your Social Security

October 31, 2014
David S. Chang

In this series, we are covering the importance of a personal financial plan. You can read Part 1 here. Studies have shown it is the primary way for people to feel confident about their money and retirement, especially when it comes to Social Security. With advances in online technology, a good financial plan can help […]

Financial Plan for financial independence

Why You Need a Financial Plan and How to Create One Easily!

October 21, 2014
David S. Chang

Many people think that a financial plan is only for people with money. Studies show however that a comprehensive financial plan benefits everyone, regardless of income, age, and net worth. In fact having a financial plan is one of the sure ways to get into a higher income bracket! Interested in getting one for free? […]

Credit And Tax-Return Breaches

February 2, 2014
David S. Chang

Credit card breaches and identity theft unfortunately are becoming more common: 40 million customer names, card numbers, the security codes and expiration dates were stolen from Target between Nov. 27 and Dec. 15, 2013. In addition, personal information for 70 million people also was stolen, totaling 110 million shoppers having their information stolen. Neiman Marcus […]

December 29, 2013
David S. Chang

The past two weeks we covered some last-minute tax planning tips on what to do before the end of the year. Here is the final article in the series. If you need free tax help and qualify, visit our other articles for more information, where you also will find top finance and tax apps for […]

End-Of-Year Tax Planning Tips, Part 2

December 20, 2013
David S. Chang

Image courtesy of ddpavumba at FreeDigitalPhotos.net Last week we covered some last-minute tax planning tips to do before the end of the year. Click here to read Part I! Here are some more tips to keep more of your money! Accelerate Your Mortgage Payment. Unlike rent, which is paid in advance, mortgage payments are made […]

End-Of-Year Tax Planning and Tips, Part 1

December 12, 2013
David S. Chang

As the end of the year approaches, we are busy with holidays, family and travel, but this also is a good time to do some last-minute tax planning. With tax cuts expiring last year, taxes will go up for some people on their income and capital gains. In addition, several tax exemptions are being phased […]

December 8, 2013
David S. Chang

To avoid headaches and penalties, mark your calendar with the following key dates. January 15, 2014 4th Quarter 2013 Estimated Tax Payment Due. If you are self-employed or have other fourth-quarter income that requires you to pay quarterly estimated taxes, get them postmarked by January 15, 2014. April 15, 2014: 2013 Individual Tax Returns Due Individual […]

November 5, 2013
David S. Chang

The IRS recently released its annual inflation adjustments for 2014. Here are a couple of important excerpts: The top marginal tax rate of 39.6 percent will be applied to single filers whose income exceeds $406,750 ($457,600 for married taxpayers filing a joint return.) The Alternative Minimum Tax exemption amount for 2014 is $52,800 ($82,100 for […]

October 23, 2013
David S. Chang

The IRS has released an alert stating that flyers and advertisements for “free money from the IRS” have been seen in communities around the country. These scams lure unsuspecting taxpayers into filing incomplete or false returns to access tax refunds or nonexistent Social Security funds. Not only do scammers demand a fee from their victims […]

October 15, 2013
David S. Chang

Some of your pet’s expenses may be deductible if your pet generates business income. If you raise guide dogs for a charitable organization or you foster or rescue animals for an IRS-approved charity, their expenses may be deductible. To find out more about deductible expenses, speak with your tax professional or review IRS Publication 17, […]