Latest Tax News & Updates


Planning for Tax Exposure in Retirement

You picture life in retirement. You’ve saved and invested. Your financial life is simple and uncomplicated. While this is a dream for many, it can also turn out to be a mirage. The truth is that your tax and financial picture may become more, rather than less,...

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Do I Have To File Taxes for My Child?

So, your son earned some money at a cool summer job last year. Now that tax season has rolled around, you may be wondering if you need to file a tax return for his income. The answer is…maybe. Here are a few questions to consider about filing tax returns for children....

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Filing an Extension for Your Taxes

Sometimes you cannot complete the paperwork for your tax return by the due date (April 17, 2018 for your 2017 returns). But, unlike your old algebra homework, you can’t just turn it in late. The IRS is very, very picky about deadlines. However, the IRS also makes it...

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Preparing to Sell Your Business

No matter what you are selling, you always want to get the best possible price for your offering. So, you put in a little extra effort and prep work. If you are selling a car, you’ll wash, clean, and vacuum it. If you’re selling a house, you’ll put on a fresh coat of...

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Should You Lease a Car Through Your Business?

Leasing a car is a popular option for consumers and business owners in the market for a new vehicle. With low monthly payments, short-term commitments, and good maintenance packages, leases can provide a variety of advantages. However, there are limitations. Two of...

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Simple Ways to Save for College

Whether your child is 18 months old or 18 years old – saving money for their college education is a critical piece of your financial picture. As tuition prices continue to skyrocket, it’s more important than ever to have a strategy for handling the cost of higher...

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Diamond & Associates CPAs