Some tax-cutting strategies make good financial sense. Others are simply bad ideas, often because tax considerations are allowed to override basic economics. Here’s one example of the tax tail wagging the economic dog. Let’s say that you operate an unincorporated consulting business. You want an additional tax write-off, so you decide to buy $10,000 of office furniture that you don’t...

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Tough financial decisions can affect both current and future tax bills, and lining up a team of professional advisors who are ready and willing to help makes a difference. For the most benefit, make sure your advisors know each other and work well together. As you begin your year-end planning, here are three areas where coordinating tax, legal, and financial...

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The fourth quarter is often make-or-break time in sports. Likewise, tax-cutting steps you take in the last three months of the year can transform a financial plan into a bona fide winner. Late-year tax planning is often a matter of reviewing your inflows and outflows. For instance, income from capital gains can be subject to both capital gains tax and...

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Don’t ignore your opportunity to save on taxes just because it’s summertime. Here are some summertime tips to keep your tax plans going. If you are a sole proprietor with children, you might consider putting them on the payroll during the summer months. Wages paid to your children under age 18 are not subject to social security and Medicare taxes....

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Here is an example of some of what we do for our clients: A while ago, a client came in who the year before owed $110K to the IRS and $8,000 in penalties and was told about this three days before the due date! Now, fortunately, the client had the money, but when the advisor was confronted about the amount...

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Based on a recent survey, Americans work an average of 117 days to pay their taxes. Since this is an average, there are taxpayers who fall above and below the average. The question is, which one are you? At Rodrigues and Company, we help our clients meet their financial goals by helping them manage their financial situation and tax return...

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Now that the end of the year is approaching, be sure to contact the office for a tax planning appointment if you’ve encounted aany significant changes in your tax lives like a sudden increase in wealth or maybe even a loss. With rate changes coming up next year, it’s good to determine if income should be claimed in this year...

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