Begining on May 24, 2024, we will be closing our office at 12:00pm on Friday. This will remain in effect until August 30, 2024 (Labor Day Weekend).
Welcome to Don Brooks & Associates, Inc. Online Office
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Visit often as additional news and helpful information will be continually added in an effort to serve you better.
For most taxpayers, you have until April 15th of the following year to contribute up to $7,000 ($8,000 if age 50 or over) into a Traditional IRA or a Roth IRA. Is an IRA an option worth considering for you? If so, which is better?
The tax code is about 75,000 pages long, so it’s not surprising there are many overlooked money-saving deductions hidden within it. And with the much higher standard deduction amounts, those who do not itemize think there are no longer ways to reduce your taxes. Since mid-year is a good time to review great tax reduction ideas, here are some to consider:
Plan now for tax changes coming at the end of 2025
Unless Congress takes action, a number of temporary tax laws are going to expire at the end of 2025.
Various Deadlines Postponed to Feb. 3, 2025
WASHINGTON — The Internal Revenue Service announced today tax relief for individuals and businesses in Connecticut and New York affected by severe storms and flooding from torrential rainfalls that began on Aug. 18, 2024. Some communities in western Connecticut also experienced landslides and mudslides from these storms.
Read more: IRS Provides Relief to Victims of Severe Storms and Flooding in Connecticut and New York
When is a tax planning session essential?
One of the biggest tax benefits available today is the exclusion of gains when you sell your qualified home. Here is what you need to know.
Wouldn’t it be nice to check out of the workforce early and not need to worry about having enough money for retirement? While good financial planning can help you get there, leveraging the tax code as part of your retirement plan is also a good idea. Here are some tax tips that could help you reach your early retirement goal.
Don't forget to save receipts