Legacy Tax & Resolution Services

Category: Tax Central

Fall Tax Planning May Be Wise

Article Highlights: Maximize Education Tax Credits  Employer Health Flexible Spending Accounts  Maximize Health Savings Account Contributions  Convert Traditional IRAs to Roth IRAs  Don’t Forget Your

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Understanding Tax Lingo

Article Highlights Filing status. Adjusted gross income (AGI). Taxable income. Marginal tax rate. Alternative minimum tax (AMT). Tax Credits. Underpayment of estimated tax penalty. When

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Are You a Candidate for Bunching?

Article Highlights: Standard Deductions  Itemized Deductions  Bunching Strategy  Medical Expenses  Taxes  Charitable Contributions  The changes in the 2017 Tax Cuts and Jobs Act (TCJA) included

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Watch Out for Tax Penalties

Article Highlights: Underpayment of Estimated Tax and Withholding Penalty  Required Minimum Distribution Penalty  Late-Filing Penalty  Late-Payment Penalty  Negligence Penalty  Fraud Penalty  Dishonored Check Penalty  Missing

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Tax Tips for Holiday Charity Donations

Article Highlights: Long-Form Itemization Required  Below-the-Line Cash Contributions for 2021  Qualified Charities Only  Cash Donations  Non-cash Donations  Leave Donations  Other Qualifying Donations  AGI Limitations  Year-End

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Article Highlights:

During the holidays, many charities solicit gifts of money or property. This article includes tips for documenting your charitable gifts so that you can claim

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