Send us a text We share ten year-end tax moves that actually save money when done before December 31, from bonus depreciation and retirement setup to the Augusta rule, income timing, and a no-drama plan to clean up your books. The focus stays on practical steps, clear timing, and spending only where it helps growth. • sending client gifts within deductibility limits to strengthen loyalty • timing equipment and vehicle purchases for 100 percent bonus depreciation • using year-end bonuses with...
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Send us a text We share ten year-end tax moves that actually save money when done before December 31, from bonus depreciation and retirement setup to the Augusta rule, income timing, and a no-drama plan to clean up your books. The focus stays on practical steps, clear timing, and spending only where it helps growth. • sending client gifts within deductibility limits to strengthen loyalty • timing equipment and vehicle purchases for 100 percent bonus depreciation • using year-end bonuses with...
95. Tax Filing Requirements for Your Dependents: When Children Need to File Returns
What Your CPA Wants You to Know
8 minutes
7 months ago
95. Tax Filing Requirements for Your Dependents: When Children Need to File Returns
Send us a text We decode the confusing rules around when children and dependents need to file tax returns, covering both W-2 employment income and 1099 contractor payments. • Children with W-2 income under $14,600 (2024 standard deduction) don't need to file unless they want to claim a refund • Parents can still claim college students as dependents if providing over half their support • 1099-NEC income has a much lower threshold - children must file if they earned over $400 • Self-employment...
What Your CPA Wants You to Know
Send us a text We share ten year-end tax moves that actually save money when done before December 31, from bonus depreciation and retirement setup to the Augusta rule, income timing, and a no-drama plan to clean up your books. The focus stays on practical steps, clear timing, and spending only where it helps growth. • sending client gifts within deductibility limits to strengthen loyalty • timing equipment and vehicle purchases for 100 percent bonus depreciation • using year-end bonuses with...
