Edward M Gardner PC CPA

The Alternative Minimum Tax is a tax imposed to back up the regular income tax imposed on corporation and individuals to assure that taxpayers with economically measured income exceeding certain thresholds pay at least some income tax.

Charitable giving strategies, including qualified charitable distributions (QCDs), may provide tax benefits for eligible retirees.

Maintaining your LLC requires ongoing responsibilities, such as filing annual reports, keeping records, and staying compliant with state requirements.

Life Changes Can Affect Your Taxes: Major events like marriage, having a child, buying a home, changing jobs, or retiring may affect your tax situation. It's a good idea to review your tax strategy after significant life changes.

Don't Overlook Tax Credits: Tax credits can directly reduce the amount of tax you owe. Depending on your situation, you may qualify for education, child, energy-efficiency, or other valuable credits.

Your adjusted gross income (AGI) is your taxable income minus certain deductions. It’s a key number because the IRS uses your AGI to determine whether you qualify for other tax credits or deductions.

Your choice of entity—such as sole proprietorship, LLC, partnership, or S corporation—can affect how you pay taxes. As your business grows, it may be worth reviewing whether your current structure is still the most tax-efficient.