Tax Pro Plus
2999 Overland Ave.
Suite 204
Los Angeles, CA 90064
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Ph: (310) 827-4829
Fax: (310) 842-7160
info@taxproplus-la.com
- Expecting Your Taxable Income to Be Low This Year? You Can Take Advantage of It
- If your taxable income is exceptionally low this year, or even if you expect not to be required to file a tax return this year, a number of tax opportunities may be available to you. But time is running short, since these opportunities will require action on your part before year’s end.
- Meals & Entertainment Expenses Post Tax Reform
- The tax reform act imposed a number of restrictions on food and beverage expenses as explained below. Learn more.
- Are You Paying Outstanding Medical or Dental Bills at Year-end?
- Do you have outstanding medical or dental bills that are adding up? Use these tax planning strategies to maximize your tax savings.
- Thinking of Tapping Your Retirement Funds Early? What You Need To Know
- If you are suddenly in need of a substantial amount of cash, probably the last thing you should do is tap your retirement funds. They are the key to a financially comfortable retirement. The younger you are, the less likely you are to think about saving for retirement, but you certainly don’t want to end up living off of only Social Security. However, there are times when there might not be any other alternative than dipping into your 401(k), IRA or other retirement plan. In that case, you have to be concerned not only with any tax liability, but also early withdrawal penalties if the funds are withdrawn before reaching age 59 1/2. Plus, some distributions may only be partially taxable and some not taxable at all, while others are fully taxable.
- Legitimate Tax-Deductible Charity or Scam?
- With the holiday season approaching, and with the great need for aid in the wake of the recent hurricanes and wildfires, you no doubt are being solicited for donations. However, do not be fooled by the scammers who come out from hiding whenever there is a disaster and during the holiday season. The last thing you want to do is get ripped off; not only will your charitable dollars go to waste, but you will also lose your tax deduction, as contributions are only tax-deductible if they are to qualified charities.
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