Just because you filed your 2024 tax return doesn’t mean your income tax questions stop. Here are some answers.
Individuals
Your Weekly Read
Understanding the tax consequences of gig workers
The gig economy offers many benefits. It also comes with tax responsibilities that gig workers need to manage proactively to avoid penalties.
The tax rules for legal awards and settlements: What recipients should know
If you receive a court award or out-of-court settlement, do you have to pay tax on it? The answer is … it depends.
Taming the tax tangle if you’re considering retirement
Retirement is a chance to travel, visit with family or just enjoy relaxing. Yet retirement may bring a tangle of tax implications.
What tax records can you safely shred? And which ones should you keep?
After filing, you may want to discard tax records. But don’t throw away documents you might need in the case of an IRS audit.
Do you qualify for “head of household” tax filing status
Only certain people can file a tax return with the favorable “head of household” status. Here are the rules.
Financial relief for families: The benefits of the Child Tax Credit
The Child Tax Credit is critical for many families. But, many taxpayers will see the credit cut in half in 2026 if Congress doesn’t act.
Can I itemize deductions on my tax return?
Not sure if you will itemize deductions in 2024? Here is how to know if you will itemize or take the standard deduction.
The 2024 gift tax return deadline is coming up soon
The April 15 tax filing deadline is coming up soon. Find out if you must file a 2024 gift tax return and why you may want to file one anyway.
You may be still able to make a traditional IRA contribution for last year
The best way to grow your nest egg is to save for retirement today. There’s still time to make an IRA contribution if you are eligible.
Read something interesting? Want more information? Give us a call, and we will be happy to assist you in any way we can.
144 W 2nd St
Washington, NC 27889
Washington, NC 27889
Business Hours:
Monday-Thursday
8:00 AM - 5:00 PM
Friday
8:00 AM - 12:00 PM
Saturday-Sunday
Closed