Multi-Generational Caretaking Tax Planning for Jefferson County Families
One of the trends of recent years has been a rise in multi-generational living. Whether it’s for economic or health reasons, when Mom and Dad or other, older members of the family move in, there are important things to keep in mind as it relates to maintaining your legal and financial footing with multi-generational caretaking […]
Tax-Wise Charitable Giving Strategies From Gates Tax Service
It’s a good idea to take your internal temperature and do whatever you need to do to get to a place of focus, amidst all of the national and global distractions that continue ad infinitum. Many of our Jefferson County clients are under enormous pressure for one reason or another, and all of the media-fueled […]
Gates Tax Service’s Top 5 List of Potentially Fatal Business Mistakes
There is a difference between income and wealth. Tax returns aren’t about wealth — they’re about “income”, and how that is defined. Business owners and real estate investors have access to powerful tax advantages that wage earners do not … and wage-earners probably wouldn’t understand them. This is true for smart Jefferson County business owners […]
Financial Documentation Strategies for Jefferson County Taxpayers
Ah, the wonders of financial documentation… Today’s topic has the benefit of ensuring your Jefferson County “financial fortress” is as airtight as it can possibly be, which has its own advantages. Financial Documentation Strategies For Jefferson County Taxpayers “You get older and you learn there is one sentence, just four words long, and if you […]
4 Tips for Jefferson County Taxpayers Owing the IRS
For many Jefferson County individuals, families, and businesses, it can seem that the government has simply been throwing money around and not paying attention to what is done with it, or collecting what is due. But if you believe that the IRS won’t come hunting for ways to recapture lost revenue … you’d be wrong. […]
Jefferson County Taxpayers, The Problem with an Unfiled Tax Return…
The unfortunate reality is that if you have an unfiled tax return — even if you don’t owe any taxes that year — there can be problems. And, that is obviously the case if you do happen to owe taxes. Not only can the federal government stir up trouble for you, but each state has […]
The Purpose of Life Insurance: Consider This Jefferson County Resident
As the old joke goes, the only two guarantees in life are death and taxes. In these updates, I obviously spend a lot of time talking about taxes. But the other part of that axiom is a subject that most people don’t want to talk about, let alone actively plan for. But plan for it […]
Penalty Relief for Jefferson County Residents Who Owe the IRS
Every year, the IRS charges tax debtors a boatload of penalties (and it’s enough to have you screaming for penalty relief). Just how much? If you’re a Jefferson County resident and you owe taxes, you should definitely take a look… To put this in perspective, the IRS budget for 2021 is about $12 billion. That […]
Consider the Side Effects of Procrastination, Jefferson County Friends
Stress. Anxiety. Unease. Worry. And a pinch of aggravation just to round it all out. No, I’m not talking about the next federal tax deadline. Or am I? For millions of Americans every year (including all of us Jefferson County folks), the tax filing deadline points to a much bigger issue. An issue so pervasive […]
Got a Jefferson County Side Hustle? What You Need to Know
These days, it seems like everybody and their uncle has a “side hustle.” From delivering for Uber Eats and Instacart to selling crafts on Etsy to teaching English online to renting out your front yard for dog parties on Sniffspot (yes, this is a real thing), there seems to be no end to the available […]