Common Forms for Taxes
Taxes can be confusing, but working with a CPA early helps avoid last-minute stress. Key tax forms to bring include W-2s, 1099s (NEC, R, SSA), and investment forms like 5498 and 1099-Composite. Understanding these forms ensures accurate filing. For guidance or help with your 2025 taxes, Whitaker-Myers Tax Advisors is ready to assist you through the process.
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The Overlooked Tax Credit: The Residential Clean Energy Tax Credit
Homeowners who install energy-efficient systems like heat pumps, skylights, or biomass stoves may qualify for the Residential Clean Energy Tax Credit—worth up to 30% of the cost. Caps apply, such as $2,000 for heat pumps and $600 for windows. To claim it, file IRS Form 5695 with your tax return. Before starting home upgrades, consult a tax professional to ensure eligibility. Whitaker Myers offers financial and tax guidance to help you save more this tax season.
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End-of-year items that will prepare you for filing your 2023 taxes
As we head into Fall Weather, Football, Halloween, and the holidays, we are getting close to the 2023 Tax Filing Season. As this time of...
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Understanding Net Unrealized Appreciation (NUA) in Retirement Plan Rollovers
The National Bureau of Labor Statistics did a study in August 2021 looking at the number of jobs that people born between 1957 and 1964,...
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TAXES ARE IMPACTED BY YOUR SAVINGS & INVESTMENT CHOICES
Your Savings, Investments, & Taxes TAXES. Love or hate them, if you live in the United States of America, you can participate in our...
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STARTING A SMALL BUSINESS
With the advent of internet shopping and social media advertising, there has been a boom in small businesses over the last decade. In...
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LONG-TERM AND SHORT-TERM CAPITAL GAINS EXPLAINED
What happens when I sell a stock or bond that has increased in value? Have you been eyeing a new vehicle, rental property, or any...
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2023 RETIREMENT PLAN CONTRIBUTION LIMITS & TAX BRACKETS ANNOUNCED
It’s the super bowl for Financial Planners and Tax Planners! Ok, maybe that is a little extreme but every year the IRS announces changes...
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2022 YEAR END PLANNING IDEAS: WHITAKER-MYERS WEALTH MANAGERS
Time flies! I was reminded of that saying this week as my wife began prepping for her 5th season of coaching high school girls'...
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THE BENEFITS OF CHARITABLE GIVING - NOW AND LATER
Why Charitable Giving Should be a part of your financial present and future As an investor, it’s up to you to decide what is important...
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UNDERSTANDING YOUR SOCIAL SECURITY BENEFIT
Social Security is a benefit nearly 1/5th of the country is currently receiving and the majority of working Americans pay into it. How is...
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