by Jeanine Hemingway CPA | Dec 9, 2024 | Tax Blog, Tax Planning
If you’re using Venmo for business transactions, it’s time to pay close attention to the upcoming changes in the 1099-K reporting threshold. For 2024, the threshold is set at $5,000. However, starting in 2025, this threshold will drop dramatically to just... 
by Jeanine Hemingway CPA | Oct 8, 2024 | Charitable giving, Retirement planning tax advantages, Tax Planning
Looking back at your 2023 income tax return, you might be considering what you could have done differently to lower your tax liability. As we approach the end of 2024, now is the ideal time to ensure you’re taking full advantage of tax-saving strategies like... 
by Jeanine Hemingway CPA | Jul 30, 2024 | Uncategorized
Tax planning isn’t just a year-end scramble—it’s a strategic financial practice that pays dividends throughout the year. Let’s delve into why consistent tax planning matters. Maximizing Deductions and Credits: Consistent tax planning allows you to identify overlooked... 
by Jeanine Hemingway CPA | Jul 25, 2024 | Announcements, Business
Although it might appear excessive, maintaining meticulous records—including receipts, bills, invoices, and other payment documentation—is crucial for both businesses and individuals. By maintaining organized records, you can easily track your financial health,... 
by Jeanine Hemingway CPA | May 13, 2024 | Business, Tax Planning
While tax season may seem far away, being proactive in managing your taxes year-round can significantly reduce your tax burden and provide peace of mind. By taking charge of your finances and implementing strategic tax planning, you can minimize your tax liabilities....