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You are here: Home / Archives for taxes

2024 Taxes: Tips for Filing and Important Changes

February 27, 2024 By Katie Brewer

Tax time is here again, and if you’re not one of the 25 million Americans who have already filed, then you’re probably going through the process of gathering what you need and preparing to file. While you’re working through your tax season checklist, here are some updates and tips to help you along the way: 2024 Taxes Filing Date As usual, the deadline to file federal tax returns for most Continue Reading

Filed Under: Tax Tagged With: child tax credit, electric vehicle tax credit, solar panel tax credit, taxes

How to Lower Your Tax Bill Next Year

June 30, 2023 By Katie Brewer

If you were surprised at tax time this year, then you’re not alone. 2022 tax refunds were about 10 percent smaller than they were last year, and for those who owed money, they tended to owe more than they expected.  The good news is, there’s still time to plan out how to lower your tax bill for next year - or at least feel more aware of what you will owe or receive. Taking the time now to make Continue Reading

Filed Under: Tax Tagged With: energy tax savings, FSA, HSA, tax bill, tax loss harvesting, taxes

How to Use Your Tax Refund in 2022

April 5, 2022 By Katie Brewer

If you’ve already filed your taxes and received your refund, you might already be thinking of ways to use that refund. Save it? Pay down debt? Book a summer trip? All of the above could be the right answer depending on your situation. Here are some tips for putting that money to the best possible use in 2022: Avoid impulse tax refund spending If you received a tax refund, then you might already Continue Reading

Filed Under: Tax Tagged With: tax refund, taxes

Filing Your 2019 Taxes: Reminders and Limits

February 4, 2020 By Katie Brewer

2019 taxes

Ready to file your 2019 taxes? (Or not?) Don’t stress: Here is my roundup guide to help the filing process be a little less painful: Know Your Limits Do you know where you fell last year on the tax brackets? If not, you can find the 7 brackets here via the IRS website. Here are some other limits you might need to know: The 2019 standard deduction is $24,400 for married filing jointly, Continue Reading

Filed Under: Tax Tagged With: 2019 taxes, tax filing, taxes

Last Minute Opportunities to Save on Taxes

February 12, 2019 By Katie Brewer

Most of the actions you can take to reduce your tax bill have to happen by the end of the taxable year (a.k.a. December 31st.) However, there are still a few opportunities to save money on your taxes this year. The changes from the Tax Cuts and Jobs Act mean that many Americans will see a lower refund or end up owing this year. So this is a good time to do what you can to save yourself a little Continue Reading

Filed Under: Tax Tagged With: filing taxes, tax day, tax season, taxes

Tax Cuts and Jobs Act – What You Should Know

January 11, 2018 By Katie Brewer

The Tax Cuts and Jobs Act is one of the most drastic tax overhauls since President Bush’s changes in 2001 and 2003. Here are some of the highlights that might affect you, your family or your business: Tax Cuts and Jobs Act For Corporations and Small Businesses: Overall, the Tax Cuts and Jobs Act is a win for corporations. Corporate America’s tax rate dropped from 35 percent to 21 percent Continue Reading

Filed Under: Tax Tagged With: tax changes 2017, tax cuts and jobs act, tax reform, taxes

Your Tax Refund: How to Use It

April 26, 2017 By Katie Brewer

Your tax refund

  Another tax season has come and gone, and if you're receiving a tax refund, you may be wondering what to do with it. First of all, if your refund seems too large, you might want to check your withholdings. That money could be better spent throughout the year. If you've had any major life changes - marriage, divorce, new baby, new job - make sure your W4 reflects that. The same Continue Reading

Filed Under: Investing, Tax Tagged With: tax refund, tax season, taxes

Tax Season: Prep Help for Last-Minute Tax Filing

March 15, 2017 By Katie Brewer

It's tax season, and the deadline is just a couple weeks away! Maybe you were busy with work, you were still waiting to compile important documents, or you forgot about tax time altogether. Whatever the reason, last-minute tax filing is common; according to the Internal Revenue Service, 20-25% of Americans wait until the first two weeks of April to file. When it's this late in the game, you've Continue Reading

Filed Under: Tax Tagged With: late filing, tax day, tax extension, tax planning, taxes

Tax Prep Tips for the Self-Employed Physician

February 23, 2017 By Katie Brewer

If you're a self-employed physician or small business owner, then you know your taxes are more involved and complicated than when you work for someone else. There are more details to track, prepare and prove when it comes to tax time. So how do you cover your bases? Here are some tips to get your taxes ready, plus input from John McCarthy of McCarthy Tax Preparation. 1. Be Prepared for Estimated Continue Reading

Filed Under: Tax Tagged With: tax season, taxes, taxes for doctors, taxes for physicians

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Katie Brewer, CFP® is a Dallas, Fort Worth, and online fee-only financial planner with over 15 years of experience. Her passion is helping clients get their financial lives in order to start living their richest lives.

Your Richest Life is a Fee-Only financial advisory firm providing honest and independent financial advice. Our clients, the members of Generations X and Y, have a different relationship with money than their parents did.

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