Author: Milton Law Group

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2024-2025 Tax Season Underway!

It’s tax time again and we hope you will be returning to Milton Law Group for your 2024 individual tax return preparation needs!   Our tax return preparation process is designed to provide convenience to our clients and ensure a smooth and efficient experience.   Please contact us if you would like to hire our firm for your tax return preparation needs.  Milton Law Group Client Portal  The use of our client portal is highly recommended and preferred.   The secure portal is encrypted with bank-level security so we can securely share files and information. The portal also features a smartphone app that allows you to...

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5 Year-End Tax Moves to Make Now 

As the end of the year approaches, proactive tax planning becomes crucial for individuals and businesses alike.   Taking proactive steps now can significantly impact your tax liability come April.  By strategically leveraging available deductions, credits, and tax-advantaged opportunities, you can potentially minimize your tax burden and enhance your financial standing.  Here are five key strategies to consider before December 31st:  1. Maximize Retirement Contributions:  One of the most effective ways to reduce your taxable income is by contributing to tax-advantaged retirement accounts.   If you haven't already maxed out your 401(k) contributions for the year, consider increasing your contributions in the remaining pay periods. For 2024,...

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10 Considerations for an Estate Plan

Developing an estate plan is crucial for ensuring your assets are distributed according to your wishes after you pass away. It also provides peace of mind during your lifetime and a lasting legacy for your children and loved ones. Here are 10 key estate plan considerations to keep in mind when thinking of an estate plan. Assets Inventory Begin by listing all your assets, including real estate, bank accounts, investments, retirement accounts, life insurance policies, and personal belongings. Beneficiaries Decide who you want to inherit your assets. This could include family members, friends, or charitable organizations. Be clear about what each beneficiary will receive. Guardianship If you...

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2023 Tax Return Preparation Services – A Note from Mark C. Milton

It’s tax time again and we hope you will be returning to Milton Law Group for your 2023 tax return preparation needs!  Our tax return preparation process (outlined below) is designed to provide more convenience to our clients and ensure a smooth and efficient experience. Over the next few days, you will receive a series of emails via our client portal that do require your attention:  Step 1. You (and your spouse, if applicable) must review and e-sign our engagement letter for tax year 2023. If you are married, both you and your spouse will receive separate emails requesting you to e-sign the...

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Tax Tips for Social Media Influencers and Content Creators  

In the ever-evolving landscape of digital media, social media influencers and content creators have carved out a unique space as digital entrepreneurs.   Some have raked in huge amounts of taxable income that will be reported to the IRS on 1099s, but not subject to withholdings. This could result in large unanticipated tax liabilities if not planned for appropriately throughout the year....

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