How to Get a Land Conservation Easement for Tax Savings

Are you sitting on extra undeveloped land? Putting it into a land conservation easement could earn you substantial tax savings.  However, the process involves multiple steps and third parties.  Fortunately, this land conservation easement guide can answer most of your questions. What is a Conservation Easement? A land conservation easement represents an agreement between a […]

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How to Get an IRS Identity Protection Pin

Identify theft is running wild in the US, and tax returns are a prime target for bad actors.  To combat this issue, the IRS started assigning IRS identity protection pins in January of 2011. These six-digit numbers protect taxpayers’ identity and make it easier for the IRS to process your return. What is an IRS […]

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How to Get Your Prior Year AGI

When it comes to filing your taxes, there are a couple of different ways you go about it. You can file a paper return by mail, or you can e-file. In this day and age, e-filing is the most common way to file your returns. It is quick, efficient, and secure. With that being said, […]

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The New Qualifying Relative Rules for 2021

The IRS typically affords tax breaks to taxpayers with qualifying dependents to compensate for their additional costs. The most prevalent type of dependent is children, but qualifying relatives often include adults and other individuals in your household. However, your claimed dependents must pass the qualifying relative test to count. This guide covers the latest IRS […]

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Investing in Art and NFTs for Tax Deductions

For high net worth individuals, tax strategies and investing go hand-in-hand. If you’re not diligent about the tax consequences of your investments, you may owe the IRS far more than anticipated. As such, these wealthy individuals often ask our team about the potential tax savings of different investments. Recently, we’ve fielded questions about investing in […]

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Can an Offshore Trust Save You Money on Taxes?

There’s been a lot of talk in the news recently about Congress raising taxes on the wealthy. Regardless of what the final legislation looks like, high earners can expect some increase in taxes. If you fall into this category, you should take steps now to start implementing some tax-saving strategies. In this vein, our clients […]

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Tax Brackets for Self-Employed Individuals in 2020

Tax season is approaching fast, so you should get focused on your taxes. Your taxable income will determine your final year-end tax bill. To determine taxable income, subtract your allowed deductions from your total income. Your adjusted gross income will include income from all sources including from your job, self-employed income, side hustles, and any […]

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