Lower My Tax Now Blog

Financial Tips You Need To Know When A Spouse Dies

Hello, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.

The death of your spouse is emotionally and financially devastating.
Making decisions of any kind is difficult when you are grieving, but having a plan to follow may help. Here are 6 financial tips you need to do:

• Wait to make major…
  
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How To Avoid The Inherited IRA Tax Trap

Hello, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow

Did you have a parent, relative or sibling that passed away and they transferred their IRA account to you?
If you inherited an Individual Retirement Account, IRA for short, from someone other than your spouse, you may be surprised to learn…

How To Minimize Tax Clutter?

Looking to minimize tax clutter?

Hello, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.
Here are 4 recordkeeping guidelines that will help you do just that while retaining what’s important.

● Income tax returns. Keep these at least seven years. Hang on to the back-up documents, such as Forms W-2, mortgage…

Tax Magic of a Net Operating Loss

Hello, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.

Did you ever experience having a business or real estate sale that generated a substantial loss?

If that ever happened to you and you reported more business or real estate loss than your income, then, you may have a net…