Entries by David Auer

When Should I Itemize Tax Deductions?

The standard deduction is the simplest way to do your taxes, but sometimes itemizing will save more money. Learn how to start calculating and which route to choose. Key takeaways: Itemizing deductions means you will list all eligible expense deductions on your tax return instead of claiming the standard. Most Americans claim the standard deduction […]

What Basic Documents Do I Need to Do My Taxes?

If you have several avenues of income or lots of opportunities for deductions, gathering the right tax forms and documents can seem overwhelming. Here are the basics to help guide you. Key takeaways Documents and records you’ll need for your taxes: Income tax forms (W-2, 1099s, etc.) Investment income and retirement information Tax forms for […]

Succession Planning and Taxes: What You Need to Know

If you own a business, planning for future transitions and taxation should start now. Key takeaways Business structure matters for taxes, whether it’s a pass-through entity, S or C corporation, or another entity The Tax Cuts and Jobs Act lowered the corporate tax rate, and it also created the qualified business income deduction for pass-through […]