ADFP Webinar Series - Income Tax 101 - Back to Basics
When was the last time you took a clear, hard look at your income tax return? Are you one of millions who hand data off to a professional to “manufacture” the return? Or do you have a more intricate knowledge of your family finances to produce the document yourself? Presented by Peggy L. Tracy, CFP®, CDFA, CFE
Wednesday, January 20, 2016; 1:00 PM - 3:00 PM EST
Member - $89
Non-Member - $114
This webinar/seminar will bring you immediate savings no matter who does the actual form filling-out. Here's the secret: IT'S NOT THE FORM THAT IS IMPORTANT. IT'S THE NUMBERS AND RULES BEHIND THE LAWS THAT DETERMINE HOW MUCH YOU PAY IN TAXES. This is partially under your control and everyone can take advantage of reducing their tax bill.
You can continue to compile the same information every year because "that's how you've always done it." Or you can invest a small amount of time and money to look at your tax return in a whole new light. This webinar will discuss many areas of Form 1040, including an in-depth view of various tax deductions and tax credits that may apply to you.
Properly used, your tax return can provide an entire new area in your budget to save additional money. Who doesn't like to take advantage of legitimate deductions and pay less in taxes? It's just a question of being informed and learning how to manage your paperwork/receipts to make a difference in your tax bill and that of your clients.
Five bullet points:
1) Discussion of medical and health deductions
2) Income-related legal fees. How much of a divorce bill can be written off?
3) Home office deductions
4) CDFA business write-offs
5) Handling your tax documents - save or toss
This is a beginner level but everyone can benefit since we all pay taxes. This seminar was presented at the ADFP conference in San Diego and received great reviews.
Peggy L. Tracy, CFP®, CDFA, CFE has been preparing income taxes for individuals and corporations for over 30 years. She is the owner of Priority Planning LLC in Wheaton, IL. In October Peggy had an article picked up by the Huffington Post and is a current ADFP Board member.