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Balance of 2023 Tax Calendar

September 2023   Balance of 2023 Tax Calendar September 15th Corporations:  File calendar year Form 1120S if you timely requested a 6-month extension. Corporations:  Deposit the third installment of your 2023 estimated tax. Partnerships:   File calendar year Form 1065 if you timely requested a 6-month extension. Withholding Agent:  File calendar year Form 1042 if you […]

Estate Taxes and Planning for The changes to Come

Currently, there are estate tax credits that will shelter your estate from tax of $12.06 Million of estate valuation and that is per spouse. Most taxpayers are not affected by estate taxes as only about 1% of Americans have an estate of $10 million or more, however, in 2026 that changes. The exemption goes back […]

Tax Saving Tips September 2020

Still Time to Get $150,000 from the SBA Can your business use an infusion of cash to deal with losses caused by the COVID-19 pandemic? The hugely popular federal Payroll Protection Program (PPP) that paid forgivable loans to millions of businesses ended on August 8 (although it could come back in revised form). But you […]

Tax Savings Tips September 2019

Make the RMD from Your Traditional IRA Tax-Free Once you turn age 70 1/2, the tax code mandates that you withdraw a tax code–defined required minimum distribution (RMD) from your traditional IRA. But by using the RMD or other IRA distribution with a qualified charitable distribution (QCD), you can eliminate the RMD tax bite, possibly […]

Tax-Saving Tips August 2019

THE WHALEN GROUP Tax-Saving Tips August 2019 How Much is One Trillion:  There are 60 seconds in a minute, that’s 3600 seconds per hour and 24 hours in a day, that’s 86,400 seconds in a day, 365 days in a year, that’s 31,536,000 seconds in a year.  Since the birth of Christ or since we […]