Tax & Strategic Planning
Understanding both individual and corporate tax practice is what the accountants at John Kiley CPA, LLC do best. We pride ourselves on the ability to clearly communicate with our clients to help them navigate not only tax season, but their financial futures as a whole.
We believe that every client deserves financial freedom and to understand which tax strategies are most rewarding for their unique situations. That is why we strive every day to provide our clients with the best customer service available and to never allow a prerecording to do the job for us.
Do You Owe Estimated Taxes? If So, When Is The Next One Due?
Certain taxpayers generally must make quarterly estimated tax payments to avoid a penalty. Here are the rules, along with when the next payment is due.
Planning Your Estate? Don’t Overlook Income Taxes
The federal estate tax exemption is currently $13.61 million, so you may want to think more about saving income taxes for your heirs (rather than worrying about estate taxes).
Consider Borrowing From Your Corporation But Structure The Deal Carefully
Closely held corporation owners: If you need money for personal expenses like a new car or home improvements, consider borrowing from the business. But follow these tips to avoid adverse tax consequences.
What Might Be Ahead As Many Tax Provisions Are Scheduled To Expire?
What’s on the tax horizon as many Tax Cuts and Jobs Act provisions get closer to their scheduled expiration date? Here are four possible scenarios.
Social Security Tax Update: How High Can It Go?
The Social Security tax paid by many individuals will continue to go up in future years. Here’s a look at how the tax affects employees, self-employed individuals and employers.
Figuring Corporate Estimated Tax
An important deadline for quarterly federal estimated tax payments is coming up on June 17. Here are the methods for computing payments for corporations.
House Rich But Cash Poor? Consider A Reverse Mortgage Strategy.
If you’re 62 or older and own a highly appreciated house, a reverse mortgage may provide a way to stay in the home for your lifetime, get some income and receive a tax-saving bonus.
You May Be Entitled To Tax Breaks If Caring For An Elderly Relative
If you’re caring for an elderly relative, you may be entitled to some tax breaks. Here are four of them.
A Three-Step Strategy To Save Tax When Selling Appreciated Vacant Land
If you’re fortunate enough to own vacant land that has appreciated greatly, you may want to sell it. But how much will you pay in tax and is there any way to reduce the tax bill? Here’s a strategy to consider.