Individual Tax | Cg Tax, Audit & Advisory

10 May

Biden Administration Proposed Tax Changes

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May 10, 2021

President Biden recently announced his $1.8 trillion American Families Plan (AFP), the third step in his Build Back Better policy initiative. The announcement followed the previous releases of the proposed $2.3 trillion American Jobs...

06 May

Individual Tax, Tax

Tax Filing Deadline is Coming Up: What to Do If You Need More Time

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May 6, 2021

“Tax day” is just around the corner. This year, the deadline for filing 2020 individual tax returns is Monday, May 17, 2021. The IRS postponed the usual April 15 due date due to the...

30 Apr

Individual Tax, Tax

President Biden Details His Tax Proposals for Individuals

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April 30, 2021

President Biden’s proposals for individual taxpayers were outlined in an April 28 address to Congress and in an 18-page fact sheet released by the White House. The “American Families Plan” contains tax breaks for...

27 Apr

Individual Tax

Unemployed Last Year? Buying Health Insurance This Year? You May Benefit From Favorable New Changes

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April 22, 2021

In recent months, there have been a number of tax changes that may affect your individual tax bill. Many of these changes were enacted to help mitigate the financial damage caused by COVID-19. Here are...

19 Apr

Individual Tax

Home Sales: How to Determine Your “Basis”

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April 15, 2021

The housing market in many parts of the country is strong this spring. If you’re buying or selling a home, you should know how to determine your “basis.” How it works You can claim an itemized...

13 Apr

Individual Tax

How to Ensure Life Insurance Isn’t Part of Your Taxable Estate

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May 9, 2022

If you have a life insurance policy, you may want to ensure that the benefits your family will receive after your death won’t be included in your estate. That way, the benefits won’t be...

11 Apr

Individual Tax

Who Qualifies for “Head of Household” Tax Filing Status?

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April 8, 2021

When you file your tax return, you must check one of the following filing statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Who qualifies to file a return...

11 Mar

Individual Tax

Retiring Soon? Recent Law Changes May Have an Impact on Your Retirement Savings

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March 8, 2021

If you’re approaching retirement, you probably want to ensure the money you’ve saved in retirement plans lasts as long as possible. If so, be aware that a law was recently enacted that makes significant...

03 Mar

Individual Tax

Didn’t Contribute to an IRA Last Year? There Still May Be Time

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March 1, 2021

If you’re getting ready to file your 2020 tax return, and your tax bill is higher than you’d like, there might still be an opportunity to lower it. If you qualify, you can make...

23 Feb

Coronavirus & Nonprofits, Individual Tax

Did You Make Donations in 2020? There’s Still Time to Get Substantiation

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February 16, 2021

If you’re like many Americans, letters from your favorite charities may be appearing in your mailbox acknowledging your 2020 donations. But what happens if you haven’t received such a letter — can you still...

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