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Document Exchange
The Postal Service is the LEAST SECURE method of exchanging documents. Today is Monday April 8th and I just had to respond to a client inquiry because we mailed a package to him on April 3rd and it has not yet made the trip from Arab to Huntsville. It is true that all mail that…
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We Want to File Your Taxes
Although we are out of appointment slots, we can still file your taxes. Call the office and ask for us to file an extension. We will review your file and call you to discuss if we think you should pay an estimate electronically by direct debit with the extension. We had more than 1,000 calls…
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College Tuition
When it comes to saving on college tuition through tax savings, there are several strategies and tax credits available in the United States that can help reduce the overall cost of higher education. Understanding these can be crucial for students and their families. Here are some key points to consider: Each of these options comes…
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Income Tax Filing Deadline
The April 15th income tax filing deadline is a date ingrained in the minds of millions of Americans, marking the annual due date for submitting individual tax returns to the Internal Revenue Service (IRS). This deadline has a history that stretches back over a century, evolving alongside changes in tax laws, societal norms, and technological…
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Taxes, Taxes and More Taxes
Understanding the Alternative Minimum Tax and Its Impact on Taxpayers The Alternative Minimum Tax (AMT) is a parallel tax system designed to ensure that individuals and corporations who benefit from certain tax benefits pay at least a minimum amount of tax. Initially introduced in 1969, the AMT aims to prevent high-income taxpayers from using extensive…
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Protecting Yourself from Identity Theft
Strategies and Tips In the digital age, the threat of identity theft looms large, affecting millions of people each year. This malicious act involves unauthorized access and use of personal information such as Social Security numbers, bank account details, credit card numbers, and other sensitive data to commit fraud or theft. The repercussions for victims…
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Good Friday
Good Friday is a solemn day commemorating the crucifixion of Jesus Christ and his death at Calvary, a foundational event in Christianity. It is observed during Holy Week on the Friday preceding Easter Sunday. This day is one of reflection and reverence, highlighting the sacrifice made by Jesus to atone for humanity’s sins. The name…
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June 17 Filing Deadline for Taxpayers Living Working Abroad
Cook & Co. Tax Advisors reminds taxpayers living and working outside the U.S. to file their 2023 federal income tax return by Monday, June 17, 2024. This deadline applies to both U.S. citizens and resident aliens abroad, including those with dual citizenship. This deadline does not apply to taxpayers who live or have a business in…
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Understanding Grantor Trusts
An Overview When it comes to estate planning and asset management, trusts play a crucial role in achieving financial goals and ensuring the well-being of beneficiaries. Among the various types of trusts, the Grantor Trust is a prominent tool used for its flexibility and tax benefits. This article delves into the basic concepts surrounding a…
