Farrar Financial Group’s Tax Planning
For the inexperienced taxpayer, planning for tax season can feel terrifying, or even impossible. While this fear can get easier to manage as the years go on, taxes also generally get more complicated as you get older—as you accumulate wealth, have children, earn more money, or invest. At Farrar Financial Group, taxes are what we do—and that includes knowing all the best tax strategies that will have your return filled out and ready to file as quickly and easily as possible.
Taxes are different for everyone, and we encourage you to contact us now at (770) 789-3000 for more information on our services or to get started with one of our tax professionals.
Farrar Financial Group Offers Tax Strategies and Solutions
There are many different effective strategies for keeping up on your taxes, so that filing doesn’t have to be a nightmare when it gets close to the tax deadline. Some of those strategies, especially if you have multiple income streams, can include:
- Doing a little bit of work on your taxes every day. Even 20 minutes daily can add up and make a huge difference down the line.
- Keep hard copies of all your files and documents. Many struggles can be avoided by quickly photocopying anything that might be relevant.
- Employ the help of one of our qualified professionals.
We Can Help You Figure Out if You Have to File a Tax Return
If your only income in the last tax year was from Social Security benefits, Disability Insurance, or Supplemental Security income, then you might not have to file a tax return at all. If you’re unsure of how these rules affect you, or if your income in the last year was from something that wasn’t an investment or a job, you should contact our tax professionals to get the details about whether you have to file or not.
Get Expert Tax Planning Advice When You Hire Us — You May Not Need to Pay Taxes!
Some people have to file, but don’t have to pay. If you’re a single person, younger than 65, and earned $10,350 or less in the last tax year, you don’t owe any taxes. These figures shift if you’re older than 65, if you’re one half of a married couple who is filing together, or if you’re the head of household. A married person filing separately can earn as much as $4,050. You can make up to $400 in tax-free income as a self-employed person before you owe any taxes.
These figure are also based on your income after necessary deductions—so, you could make much more than that annually and still owe little or no tax.