by somichcpa | Oct 2, 2026 | Uncategorized
Investing is an important part of building long term wealth, but investment decisions can also have tax consequences. When you sell an investment, realize a significant gain, or transfer assets to family members, the timing and structure of those decisions can affect...
by somichcpa | Sep 23, 2026 | Uncategorized
More Income, More Tax Considerations: What to Know Before Taking on Extra Work Whether you pick up a second job, start freelancing, or turn a side project into an additional source of income, earning more can be a great opportunity. But additional income can also...
by somichcpa | Sep 15, 2026 | Uncategorized
Tax planning does not always require a complicated strategy. In many cases, relatively small decisions made throughout the year can improve your tax position, strengthen your finances, and create meaningful benefits when repeated over time. Here are several areas...
by somichcpa | Sep 4, 2026 | Uncategorized
The cost of higher education can add up quickly, but there are tax benefits available that may help offset some of those expenses. Two of the most common are the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC). While both can help reduce...
by somichcpa | Aug 10, 2026 | Uncategorized
Major life events often bring financial changes, and taxes can easily become an afterthought. From selling a home to changing jobs or caring for a parent, understanding the potential tax impact ahead of time can help you avoid surprises and make better financial...
by somichcpa | Dec 16, 2025 | Uncategorized
As we move closer to 2026, taxpayers are beginning to feel the impact of recently passed tax legislation that builds on the foundation of the 2017 Tax Cuts and Jobs Act. This new law extends several key provisions, introduces temporary deductions, and adjusts certain...
by somichcpa | Nov 10, 2025 | Uncategorized
As the year winds down, now is the perfect time to review your tax situation and take steps that could reduce your bill come filing season. A proactive review can help you make smart adjustments before the year closes — and minimize any unpleasant surprises in the...
by somichcpa | Oct 28, 2025 | Uncategorized
When most people think about estate planning, they focus on the basics: writing a will, naming beneficiaries, and choosing an executor. While those are essential steps, they only cover part of the picture. A complete estate plan should go further, helping your loved...
by somichcpa | Oct 24, 2025 | Uncategorized
As 2025 winds down, the fourth quarter is an ideal time to review your tax strategy and take advantage of new opportunities. With updated tax laws now in effect, year-end planning can make a meaningful difference in your 2025 tax bill and set you up for success...
by somichcpa | Oct 2, 2025 | Uncategorized
The IRS has announced that it will begin phasing out paper refund checks for individual taxpayers starting at the end of September 2025. Full guidance for the 2025 tax year will be released ahead of the 2026 filing season. This change supports the federal government’s...
