E-File System Closing Did you miss the October 15th extended filing deadline for your 2024 tax returns? Though the IRS has not announced when they will shut down the e-file system for annual maintenance, in an effort to prepare for the upcoming 2025 tax return filing season, the firm will be closing the electronic filing system on November 21st . The last day to submit your documentation to meet this filing deadline is November 7th . Late submissions will be submitted for

Reminder Are your personal income tax returns on extension? Your returns are due OCTOBER 15TH . The last day to submit your tax documents to ensure your returns are filed timely is SEPTEMBER 29TH . We will not guarantee filing your returns by the deadline and rush fees may apply if ALL of your documentation is not submitted by the cutoff date. Should you miss the filing deadline, late filing penalties will be applied to your returns by the IRS and state(s).

By now, we have all been able to do a deep dive into the comprehensive One Big Beautiful Bill Act (OBBBA), which includes an array of tax provisions affecting individuals, businesses and international taxpayers. Though we do not have all of the regulatory guidance for each provision just yet, we want to provide a high-level overview of the key provisions and offer preliminary insights into how they may affect your tax planning. Individual Income Tax Provisions Permanent exte

Paying your children properly is an excellent strategy to minimize their tax liability and create other ancillary  benefits. Follow the...

A 529 plan is typically set up in the form of a savings or investment account, where the money contributed grows tax-free as long as the...

A 1031 exchange (also known as the like-kind exchange) is simply swapping one real property (or real estate) for another. In effect, you...

Capital gains result when shares of a stock are sold for more than you paid for them. The tax on these gains depends on how long the...

What is a Health Savings Account (HSA)? To be eligible to contribute to an HSA plan offered by your employer, you must be enrolled in a...

Special Announcement We are bringing to your attention and officially announcing that our firm, Gonzalez & Hawkins, LLC, is being...