Year-End
Year-End Prep: 5 Key QuickBooks Online Tasks Before January 1st
Submitted by Desmond Wealth Management, Inc. on December 11th, 2023December always seems to fly by. In just a few short weeks, the holidays will be over and it will be time to welcome the New Year. The holiday season brings personal obligations, but for retailers, it's also the busiest time of the year. Even if you're not in the retail business, you probably have sales goals or other metrics to meet before 2024 arrives.
Year-End Tax Planning Opportunities Are Here
Submitted by Desmond Wealth Management, Inc. on December 11th, 2023Last-Minute Year-End Tax Strategies
Submitted by Desmond Wealth Management, Inc. on December 11th, 2023Donating Clothing to Goodwill and the Salvation Army
Submitted by Desmond Wealth Management, Inc. on November 8th, 2023As the year comes to a close, many taxpayers consider making clothing and household item donations both to give back and to optimize their tax deductions.
Recent cases, like the one involving Duncan Bass, underscore the significance of understanding and adhering to IRS regulations related to these contributions.
Obscure and Overlooked Tax Deductions, Credits, and Benefits
Submitted by Desmond Wealth Management, Inc. on October 17th, 2023As tax time approaches, here are some tax issues that taxpayers frequently overlook, ranging from obscure deductions to overlooked tax credits and benefits. Of course, not everything can be included since the tax law has grown significantly in complexity, and it would take a thick book to list everything.
Last-Minute Year-End Tax Strategies
Submitted by Desmond Wealth Management, Inc. on December 4th, 2022Six Financial Best Practices for Year-End 2022
Submitted by Desmond Wealth Management, Inc. on November 22nd, 2022Managing Gains and Losses in a Turbulent Year
Submitted by Desmond Wealth Management, Inc. on November 15th, 2022It's been a rough Fall for the stock market - so much so that you should probably carefully review your portfolio and other capital transactions to minimize gains or maximize losses for the year. Remember, capital gains and losses are not just limited to stock transactions. For example, stock losses can offset the gain from the sale of a rental.