by Arthur Geffen | Dec 28, 2023 | Dallas Probate Lawyer
Although the federal income tax filing deadline is not until April, the 2024 tax season starts in just a few short weeks. But you do not need to wait until late January gets here to start getting ready. There are some things you can do now to help you prepare for...
by Arthur Geffen | Dec 27, 2023 | Dallas Probate Lawyer
Yes, You Have to Update Your Planning Estate planning is about as much fun as getting a root canal. Unless there is a strong driver, like a pending change in taxes (there is with the exemption dropping in 2026) or asset protection need (can you ever know when someone...
by Arthur Geffen | Dec 26, 2023 | Dallas Probate Lawyer
Higher federal income tax brackets and standard deductions will take effect at the beginning of January, potentially giving Americans a chance to increase their take-home pay in 2024 and shield more of their income from the IRS. The IRS announced the higher limits for...
by Arthur Geffen | Dec 20, 2023 | Dallas Probate Lawyer
R-2023-244, Dec. 19, 2023 WASHINGTON — In a major step to help people who owe back taxes, the Internal Revenue Service today announced new penalty relief for approximately 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated...
by Arthur Geffen | Dec 19, 2023 | Dallas Probate Lawyer
There are currently about 180 tax expenditures, also known as tax breaks, which can take the form of exemptions, deductions, credits, and preferential rates written into the U.S. Tax code. In 2023, those breaks totaled about $1.8 trillion. To put that in perspective,...
by Arthur Geffen | Dec 13, 2023 | Dallas Probate Lawyer
Tax credits could potentially save you thousands of dollars during the tax filing season. According to the IRS, a tax credit is a dollar-for-dollar amount you can claim on your tax return to reduce the income tax you owe. Eligible taxpayers can use them to reduce...
