Its that time of year you are tempted to lie in order to get a larger refund or pay less. Is it worth it? Read More
No Patriotic Duty to Pay More Taxes
Anyone may arrange their affairs that their taxes shall be as low as possible; you are not bound to choose that pattern which best pays the Treasury. There is no patriotic duty to increase one’s taxes. Read More
Totally Tax Free
A continuation on the importance of tax diversification. Totally tax free accounts offer great benefits dealing with the tax impact in retirement. Read More
Your Tax Time Bomb
A continuation on the importance of tax diversification. Tax Deferred accounts offer great benefits especially if your employer provides a match but be careful to properly plan the tax impact in retirement. Read More
The Other Diversification
When it comes to diversification, understanding the impact of taxes on your retirement is crucial to a successful and lasting plan. Read More
Retirement and an IRS Audit
If you are retired you still run the risk of being audited by the IRS. Here are 4 common things that can raise a red flag. Be careful and let us help you with your tax preparation. Read More
Dealing with a Tax Mistake
There will be over 250 million returns filed this year in the US. Do you think some will have mistakes? So what happens if you make a mistake on your tax return. Read More
What Happens If You File Your Tax Return Late
by Richard E. Reyes, CFP
Its the morning before taxes are due and you might be freaking out right now. Well for that reason I thought it might be worth talking to you about what happens if you miss the deadline and wind up filing late or maybe not filing at all.
The short answer is that you might run the risk of the IRS coming after you for penalties and interest, and actually the IRS feels that failing to file is much worse than failing to pay on time. As the penalty for failing to file is stiffer than the penalty of failing to pay on time. Read More
