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Offering Tax Preparation As A Solo Advisor: How To Attain Designations And Create A Schedule By Next Tax Season

Nerd's Eye View

Traditionally, financial advice and tax preparation have existed as 2 related, but separate, services. CPA, EA, or JD) to prepare tax returns and represent clients before the IRS, there has also been the impression that there is simply not enough time for one person to do both.

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Filing Taxes in 2025: What You Should Know

Your Richest Life

The tax deadline is next month, and if youre like most Americans, you are still preparing to file. Standard and Itemized Deduction for filing 2024 Taxes For the 2024 tax year, the standard deduction increased to $29,200 for married filing jointly, $14,600 for single filers and married filing separately, and $21,900 for heads of household.

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Weekend Reading For Financial Planners (May 6-7)

Nerd's Eye View

Also in industry news this week: Legislation working its way through Congress would allow for electronic delivery of documents to clients of advisors and other financial services firms by default, though it has been met with some opposition While RIAs have outpaced wirehouses in terms of client asset growth and headcount, industry consolidation has (..)

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Your 2025 Tax Extension Guide: When, Why, and How to File for More Time

Harness Wealth

As is traditional, the 2025 IRS tax filing deadline is April 15th. In this guide, well explore the 2025 tax extension process, the reasons for requesting an extension, and how a tax advisor from Harness can help you. Table of Contents What is a tax extension? Why do I need a tax extension? This is not the case.

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How Long to Keep Important Financial Records

MazumaBusinessAccounting

Remember, the IRS recommends keeping tax-related documents for at least six years. Whether you’re keeping the record for one month or 10 years, record-keeping best practices dictate you should store documents electronically (go paperless when you can), and always backup your files by saving them in the cloud.

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2025 Tax Preparation Checklist: What You Need to File Taxes

Harness Wealth

What do you need to optimally complete and file your taxes? This article covers a comprehensive list of the most common forms, documents, and information needed to file taxes. If you need a cheat sheet, download our 1-page tax prep checklist. Use this tax prep checklist as a tool to save time ahead of tax filing.

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How to Recognize and Protect Yourself Against Tax Identity Theft  

James Hendries

But another common type of identity theft involves the use of someone’s Social Security number to unlawfully intercept their income tax refund. Unfortunately, this fraud often isn’t discovered until the victim tries to file their taxes.

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