Jessica Le, MBA, CPA.

Transferring assets to heirs requires care and plan to lower gift taxes and estate taxes. This is especially true because the law makers are in the talk to lower the life time gift tax exemption in futur

This is the first post of Social Security Benefits of the “All You Need to Know about Social Security Benefits”. The second post will discuss about the tax and tax planning for Social Security Benefits Social Security Benefits Introduction Before deciding at what age a taxpayer should start collecting social benefits, taxpayers should understand the

With the work-from-home policy becoming popular, more and more people move from one state to other states. Some move and settle with a new state; however, others just move temporarily to other states and move back after COVID-19. Moving permanently to a new state has a different state tax impact from temporary move to other

During COVID-19 period, many employers implement work-from-home policy which becomes more and more popular. Which state tax does a remote employee have to pay if he/she lives in one state and works from other states? Unless the taxpayer lives in tax-free states, a taxpayer needs to report all income to the resident state tax return

One way to reduce taxes and build for your future is to put money into retirement accounts. Most people may be familiar with regular retirement accounts like IRA, Roth IRA, and 401(k) . Regular retirement accounts are usually open with financial institutions or banks. Once the account is open, there is a list of mutual

This post provides strategies for avoiding underpayment penalties for estimated tax including increasing withholding and IRA distributing. The post also explains the method that yields the smallest required payment for each quarter.