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Things to Learn From a Tax Return

Money Talk

With less than five months remaining in 2024, now is the time to begin serious tax planning for your 2024 income tax return. I recently attended a webinar with some tips for financial advisors about reviewing clients’ tax returns. Simply look at your 2023 tax return and divide your total tax owed by taxable income.

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Small business tax credits and deductions you should know about

Business Management Daily

Congress routinely showers small businesses with tax preferences. And now is the time to think about them, since the tax-filing deadlines for calendar-year corporate returns are fast approaching—March 15 for S corps and April 18 for C corps. But there is a difference between the two: Tax deductions reduce your taxable income.

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What Are Pre-tax Deductions?

Patriot Software

Do you need to withhold money from employee wages beyond taxes (e.g., Then you might be wondering when exactly you deduct the employee’s contributions—before or after taxes. For accurate withholding, understand what are pre-tax deductions. Not sure what that means or how it impacts your tax calculations?

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What Are Post-tax Deductions From Payroll?

Patriot Software

You also need to subtract deductions from payroll. Deductions include taxes, pre-tax deductions, and post-tax deductions from payroll. You will deduct post-tax deductions after you withhold pre-tax deductions and taxes.

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What is a High-Deductible Health Plan (HDHP)?

Higginbotham

While not ideal for everyone, a high-deductible health plan can be very appealing to some workers, especially when it’s paired with a health savings account. Offering a high-deductible health plan as part of an employee benefits package, therefore, may be a strategic option for your organization.

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What Are Payroll Deductions?

Patriot Software

You know there are deductions to take out of your employees’ paychecks. But, are they pre-tax vs. post-tax deductions? What are payroll deductions? Read on to learn the different deductions you have to take out of each employee’s paycheck. What are payroll deductions?

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Ten Tax Planning Tips for 2022

Money Talk

Now that 2021 income tax season has been over for a month and the dust has settled, it is time to start some serious tax planning for 2022. Planning now provides seven months to take action and/or implement changes to avoid a stressful “tax scramble” at the end of the year. assets that are taxed in different ways).

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