The Motley Fool

MARCH 14, 2024

Image source: The Motley Fool/Upsplash Just as it's sometimes possible to drop the ball on filing your federal taxes , so too might you inevitably drop the ball on your state taxes. So if you're sitting on an old tax return you know you need to submit, don't just ignore the problem. But you may be looking at costly penalties.

Taxes 130

Taxes Consultants Consulting Legal 130

The Motley Fool

FEBRUARY 22, 2024

Risk management specialist FTI Consulting (NYSE: FCN) delivered quarterly results that easily surpassed expectations and guided for a strong 2024. Is FTI Consulting a buy after its strong quarter? FTI recorded an adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) margin of 13.8% as of noon ET.

Consultants 100

Consultants Consulting Earnings Before Interest Amortization 100

The Motley Fool

OCTOBER 8, 2023

You can invest in an IRA if you don't have a workplace 401(k) plan and you want to save for retirement in an account that offers tax benefits. If you put money into an IRA , it's important to understand how taxes work for this type of account, since they are tax-advantaged accounts.

Taxes 237

Taxes Consultants Consulting Accounting 237

Private Equity Insights

OCTOBER 5, 2023

buyout firms Veritas Capital and Platinum Equity are vying to acquire Jacobs Solutions Inc’s (J.N) government consulting business, competing against rival contractor Amentum, according to people familiar with the matter. Jacobs and Amentum declined to comment.

Consultants 130

Consultants Consulting Private Equity Firms Private Equity Firms 130

The Motley Fool

FEBRUARY 15, 2024

Image source: Getty Images The tax deadline is still two months away, so don't feel bad if you haven't gotten around to filing your return just yet. 2, the average tax refund is just $1,395, and the average refund for direct depositors is $1,543. In 2023, the tax season began on Jan. You're definitely in good company.

Taxes 130

Taxes Returns Consultants Consulting 130

The Motley Fool

MARCH 3, 2024

Image source: Getty Images The goal when filling out your federal income tax return should be to pay what you owe -- but not a penny more. You can make sure this happens by taking advantage of the numerous tax deductions, credits, and other incentives in the lengthy U.S. tax code to make sure your bill is as low as possible.

Taxes 130

Taxes Depreciation Consultants Consulting 130

The Motley Fool

FEBRUARY 24, 2024

The IRS offers education tax credits that can reduce the amount you owe in income taxes if you paid for higher education throughout the year. The student has not claimed the AOTC or the former Hope tax credit for more than four years. This is a partially refundable tax credit. Who qualifies? during 2023. Who qualifies?

Education 130

Education Taxes Consultants Consulting 130

The Motley Fool

MARCH 3, 2024

Image source: Getty Images Letting someone else file your tax return sounds like a pretty sweet deal -- unless that person is an identity thief after your refund. million tax returns with refunds totaling $6.3 Fortunately, the IRS has developed a strategy that can reduce your risk of tax identity theft. It's not a must-have.

Taxes 147

Taxes Consultants Consulting Returns 147

The Motley Fool

APRIL 1, 2024

Image source: Getty Images You've finally sent off your tax return to the IRS and -- too late -- realize that you did something wrong. If the mistake caused you to underreport your income and the government catches wind of it, it could charge you additional taxes plus a penalty. Whatever the cause, you've now got a problem.

Taxes 130

Taxes Consultants Consulting Returns 130

The Motley Fool

MARCH 9, 2024

Certain strategies can help you keep more of your money, like keeping savings in Roth accounts that allow for tax-free retirement withdrawals. Currently, 13 states don't tax retirement withdrawals from 401(k)s or IRAs. Right now, the only income tax its residents can face is on interest and dividend income above $2,400.

Taxes 130

Taxes Consultants Consulting Accounting 130

The Motley Fool

FEBRUARY 28, 2024

Image source: Getty Images February is almost over already, but there's still plenty of time to complete your taxes before the April 15 filing deadline. Before spending money on tax software , check to see if you qualify for free or low-cost tax-filing resources. Eight tax software companies are IRS Free File partners.

Taxes 130

Taxes Consultants Consulting Banks 130

The Motley Fool

MARCH 21, 2024

Image source: Getty Images Recently, the IRS warned that phone delays should be anticipated during the run-up to the tax-filing deadline for submitting 2023 tax returns. In response to the fact so many taxpayers call for help with their taxes at this time of year, the agency suggested an alternative if you need customer support.

Taxes 130

Taxes Consultants Consulting Banks 130

The Motley Fool

JUNE 16, 2023

With all the good things that can come from living abroad, it's important to know that your tax situation could become more complex if you decide to retire abroad, mainly because you'll be dealing with U.S. tax laws and the tax laws of your new country of residence. tax laws regardless of your country of residence.

Taxes 246

Taxes Consultants Consulting Accounting 246

The Motley Fool

MARCH 6, 2024

Image source: The Motley Fool/Upsplash Tax refunds are the prize at the end of the tedious tax-filing process, and you're not alone in wanting the largest refund possible. The average refund this tax season stands at $1,741 as of Feb. Here's what you need to know to shrink your tax refund for next year.

Taxes 130

Taxes Liabilities Consultants Consulting 130

FinSMEs

JULY 6, 2023

Ryan, a Dallas, TX-based tax services and software provider, acquired Indigo Consulting Group, a Hertfordshire, UK-based research and development (R&D) tax relief consulting firm. The amount of the deal was not disclosed.

Consultants 62

Consultants Consulting Taxes 62

The Motley Fool

JULY 3, 2023

Image source: Getty Images The midpoint of the calendar year isn't exactly a common time to be thinking about taxes. After all, it's not like your next tax return is due anytime soon. But even though this time of the year isn't exactly a popular one for tax-related matters, it's important to do a mid-year tax checkup.

Taxes 130

Taxes Consultants Consulting Accounting 130

The Motley Fool

MARCH 13, 2024

Image source: Getty Images Filing taxes can be a bit perplexing. Clearly I'm not the only one still scratching my head over that, because the IRS has recently introduced a new Direct File program that makes it free for qualifying taxpayers in 12 states to file their federal tax returns. Here's what you need to know about it.

Taxes 100

Taxes Consultants Consulting Returns 100

The Motley Fool

DECEMBER 5, 2023

Read more: we researched free tax software and put together a list of the best options here If I want to carve out time to travel with my family, I have to work extra in the weeks leading up to a trip to compensate. But one benefit of being self-employed is that I'm able to deduct certain expenses on my tax return.

Taxes 130

Taxes Consultants Consulting Accounting 130

FinSMEs

NOVEMBER 3, 2023

Visiativ UK, a UK-based funding consultancies company, acquired MMP Tax, a London, UK-based multi-service consultancy company helping FTSE 100 and large complex multi-nationals claim technology incentives. The amount of the deal was not disclosed. With the acquisition, Visiativ UK will expand its offerings.

Taxes 62

Taxes Consultants Consulting Funds 62

Integrity Financial Planning

JUNE 12, 2023

As you plan for retirement, it’s important to consider tax optimization strategies to minimize your tax liabilities. Here are three key ways to optimize taxes in retirement, based on information from sources published between 2022 and 2023.

Taxes 92

Taxes Liabilities Consultants Consulting 92

The Motley Fool

SEPTEMBER 14, 2023

However, rolling over a 401(k) plan can lead to sizable tax payments, especially if you withdraw the funds before age 59½ and you don't roll over the funds into another qualified plan. But what if I tell you there's a way to avoid or significantly reduce your tax payments? Yes, it is possible -- through a mega backdoor Roth IRA.

Taxes 130

Taxes Consultants Consulting Accounting 130

The Motley Fool

APRIL 15, 2024

This felt frustrating, especially since tax season was approaching. If you're a small business owner, freelancer, consultant, or solo entrepreneur who needs an easy way to track business expenses, this could be a great solution for you -- and it's worth paying for. Fortunately, after extensive research, I found a good Mint replacement!

Taxes 246

Taxes Consultants Consulting Financing 246

Private Equity Wire

JANUARY 2, 2024

EY has expanded its tax team with the appointment of two new partners, Elliott Morley and Gabriel Iliuta, as the firm gears up for an anticipated increase in client demand for specialist private credit advice, according to a report by Consultancy.

Taxes 77

Taxes Consultants Consulting Financial Services 77

The Motley Fool

FEBRUARY 28, 2024

Image source: Getty Images One of the benefits of being self-employed is getting to enjoy a host of different tax breaks. You can also save money on your taxes by deducting expenses that include professional license fees, equipment, and office supplies, like pens and notepads. You could instead deduct your auto-related expenses.

Taxes 246

Taxes Consultants Consulting Accounting 246

The Big Picture

JANUARY 24, 2024

At the Money: How to Pay Less Capital Gains Taxes (January 24, 2024) We’re coming up on tax season, after a banner year for stocks. Successful investors could be looking at a big tax bill from the US government. On this episode of At the Money, we look at direct indexing as a way to manage capital gains taxes.

Taxes 95

Taxes Mutual Funds Capital Asset Management 95

Hedgestone

JULY 10, 2023

As the owner of a consulting business, you may be considering selling your business, merging with another firm, or simply seeking to understand the true value of your company. Regardless of your goals, determining the value of your consulting business is a crucial step towards making informed decisions about the future of your company.

Consultants 52

Consultants Consulting Due Diligence Mergers and Acquisitions 52

The Motley Fool

MAY 12, 2024

Roth IRAs are packed with benefits, including tax-free withdrawals during retirement. When your child reaches 59 1/2, they will be able to withdraw money tax-free from their Roth IRA. Consult with a CPA or other tax professional to ensure you stick to the rules. And anyone with earned income can contribute to a Roth IRA.

Taxes 245

Taxes Accounting Consultants Consulting 245

Tobias Financial

DECEMBER 20, 2023

As we begin our countdown to 2024, it is a great time to ensure your year-end tax plan is in place. Tax planning is a vital component of meeting your overall financial goals. Our team of professionals is here to assist with your financial and tax planning needs. This might be the time to consider an adjustment.

Taxes 52

Taxes Consultants Consulting Education 52

The Motley Fool

APRIL 21, 2024

That also may be the ideal time to consult an estate attorney or financial advisor experienced in such matters. Consult a knowledgeable tax attorney to be sure. That begins with understanding the nuances of setting up, maintaining, and using a living trust and how it aligns with your overall estate planning goals.

Legal 246

Legal Consultants Consulting Education 246

The Motley Fool

MARCH 27, 2024

The beauty of a Roth IRA lies in its tax structure. Contributions are made with after-tax dollars, but the account's growth and withdrawals are tax free under current laws. A UTMA account offers tax advantages -- the first $1,250 of unearned income is tax free and the next $1,250 is taxed at the child's lower rate.

Accounting 246

Accounting Education Taxes Consultants 246

The Motley Fool

JANUARY 24, 2024

Make good use of tax-advantaged retirement accounts : These include IRAs and 401(k)s , and both come in two main varieties -- traditional and Roth. You contribute money to a traditional account on a pre-tax basis, shrinking your taxable income and therefore your tax bill for the year of the contribution.

Taxes 246

Taxes Consultants Consulting Collateral 246

The Motley Fool

JANUARY 30, 2024

And your total income will determine whether federal taxes on your benefits apply. So if your retirement plan withdrawals cause enough of an increase to your income, it could result in you having to pay taxes on some of your Social Security benefits. With a Roth, it won't.

Taxes 246

Taxes Consultants Consulting Accounting 246

The Motley Fool

MAY 8, 2024

However, I don't think it's a stretch to say that people want to make more money and pay fewer taxes on that wealth. I mean, who likes paying taxes? Don't worry -- I'm not advocating tax evasion. That's over $1 million you're making tax-free! So those converting a large sum should be ready for a hefty tax bill.

Accounting 130

Accounting Taxes Consultants Consulting 130

The Motley Fool

MARCH 31, 2024

To be sure, consult a qualified tax attorney. Proceed with consideration and consultation While a living trust has many advantages for estate planning, it must be adopted with careful thought and examination.

Legal 190

Legal Consultants Consulting Education 190

The Motley Fool

JANUARY 23, 2024

Depending on your income, the state government may impose income tax on a portion of your Social Security benefits. How are Social Security benefits taxed? That makes it harder and harder to avoid paying taxes on Social Security. Retirees age 65 or older are exempt from taxes on Social Security benefits.

Taxes 246

Taxes Consultants Consulting Accounting 246

Walkner Condon Financial Advisors

MARCH 16, 2023

As we are now within 30 days of the April 18 tax filing deadline (April 15 falls on a weekend and April 17 is a federal holiday), it is important to begin organizing your documents and creating a plan to file your taxes, if you have not done so already. Filing Late One of the most common mistakes is filing your tax return late.

Taxes 52

Taxes Education Consultants Consulting 52

The Motley Fool

MARCH 16, 2024

Image source: Upsplash/The Motley Fool At this point, many people are deep in the throes of doing their taxes. To that end, it pays to claim any tax credits you're entitled to, as they'll reduce your IRS liability on a dollar-for-dollar basis. And your goal may be to try to eke out the most savings on your return as you can.

Taxes 147

Taxes Consultants Consulting Liabilities 147