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How to Be Tax-Efficient with Your Retirement Income: The Bucket Strategy

CTP

Planning for retirement also means planning for retirement income taxes. Creating a tax plan for retirement will ultimately allow you to spend less money on taxes and put more toward the lifestyle you want. Taxable non-retirement investments or brokerage accounts. Pre-tax retirement funds. Social Security.

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Digital Automation Increasing in Tax Firms

CPA Practice

In addition, tax administrations have different requirements for business-to-consumer (B2C) invoicing across countries for the invoices that are sent to consumers. Each country has specific requirements for invoicing , including language, currency, format, tax calculations, format and signatures. Recent data from the U.S.

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Death And Taxes: One Is Becoming Much More Digital

PYMNTS

And digital payers are striving to win more business from tax filers this year. According to various estimates, it can take three to four weeks to get a tax refund from the IRS, while Americans who take the Earned Income Tax Credit or the Additional Child Tax Credit won’t get their refunds until Feb.

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Selling an S Corporation: How to Maximize Tax Savings in an Asset Sale

CTP

An S corporation might have accounts receivable, notes receivable, or tax receivable. Since the sale has already occurred, these are taxed at an ordinary income tax rate, which taxpayers likely want to avoid since it can be as high as 37%.

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Business Start Up Costs: Projecting Expenses and Tax Treatment

inDinero Accounting

We’ll also identify what the IRS officially regards as startup costs, so you can strategically time your expenses to maximize tax efficiency. Our accounting services for small business can help you get started on the right foot. Doing so will save you headaches come tax time.

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Timing is Everything: Strategies to Lower Your Capital Gains Tax

CTP

Know the Basics for Strategic Timing From a tax perspective, the goal is typically to move from short-term to long-term capital gains tax. Short-term capital gains are taxed at ordinary income tax rates, which will be 22% or higher for middle-to-upper-class taxpayers.

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6 ways you can reduce your children’s taxes and get out of debt with the money saved

CTP

By hiring your kids, you can save your federal taxes by up to 37%, and you’ll also get an extra set of helping hands. Regardless of the child’s age, if they make the standard deduction of $12,950 or less, federal income tax is not due on their salary. Your tax savings can be put to a variety of uses.

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