Lower My Tax Now Blog

Should you increase your withholding before end of the year?

Hi guys, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.com
Can your wage income tax withholding cover your income taxes liability before the end of the year? If not, here are your 3 options:

1. Make estimated tax payments. The only downside is that you might be subject to penalties for…

When do you claim social security benefits?

Hi guys, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.com
Whether you should take social security retirement benefits at the earliest possible date or defer benefits until reaching normal retirement age (or even age 70), depends on several factors. For example, you’ll want to consider your overall health and…

Carryovers on your prior return that can affect year-end planning

Hi guys, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.com
Today, we’re going to talk about carryovers on your prior return that can affect year-end planning.

As the year-end is coming to a close, remember to check your prior tax return for carryover items that can affect your year-end planning….

Items on your prior return can affect year-end planning

Hi guys, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.com
As year-end approaches, remember to check your prior tax return for items that can affect your year-end planning. Here are three items to look out for:
Capital loss carryover. If your capital losses exceeded your capital gains last year, you…