Many people no longer need to be concerned with federal estate tax because of the current estate tax exemption amount ($12.06 million in 2022). Before 2011, a much smaller exemption resulted in estate plans attempting to avoid it. Now, because many estates won’t be...
Once some people begin claiming Social Security benefits, they are surprised to find out they’re taxed by the federal government on the amounts they receive. Wondering whether you’ll be taxed on your Social Security benefits? The answer is: It depends. The taxation of...
The downturn in the stock market may have caused a decrease in the value of your retirement account, but if you have a traditional IRA, this decline may provide a valuable opportunity. It may allow you to convert your traditional IRA to a Roth IRA at a lower tax cost....
Many people own Series E and Series EE bonds that were bought many years ago. They may rarely look at them or think about them except on occasional trips to a file cabinet or safe deposit box. One of the main reasons for buying U.S. savings bonds (such as Series EE...
If you’re a partner in a business you may have come across a situation that’s puzzling. In a given year, you may be taxed on more partnership income than was distributed to you from the partnership. This is due to the way partnerships and partners are taxed. Unlike C...
Are you charitably minded and also taking distributions from a traditional IRA? You may want to consider the tax advantages of making a cash donation to an IRS-approved charity out of your IRA. When distributions are taken directly out of traditional IRAs, federal...
About Adam: After receiving his Bachelors in Accounting from the University of Alabama in 2005 and his Masters of Tax in 2007, Adam moved to the Washington DC area and worked with a “Big 4″ public accounting firm. This was a fascinating and formative time where he was able to work with, and advise, some of the biggest companies in America. A few years later, Adam moved to Fort Worth, Texas and began working for a small public accounting firm. It was there that he discovered he really enjoyed working with small businesses. The difference he could make in these businesses was extremely gratifying, which is why Adam has chosen to focus his practice primarily on small business accounting.
"Being a CPA has led me to meet and work with many wonderful people and ideas. I always look forward to putting that experience and knowledge to work for my clients every day.”