Everyone likes to save on taxes. Making the most of deductions is one avenue available to taxpayers to reduce their tax bill. All taxpayers have the option to either itemize deductions or take the standard deduction, which is currently $12,700 for a married couple under age 65. If a couple’s standard and itemized deductions are close to being the same amount each year, there is an opportunity to plan these expenses in a way that may reduce the overall tax bill.
The Solar Investment Tax Credit (ITC) allows you to deduct 30% of the cost of solar electric or solar water heating installations from your federal taxes. A 2015 legislative amendment extends the credit for both residential and commercial projects through the end of 2019, then gradually decreases to 26% in 2020 and 22% in 2021 […]
Each year the Internal Revenue Service and the Social Security Administration publish cost-of-living adjustments, retirement plan contribution limits, and other tax-related items. Here are a few notable updates: Retirement Savings Increased Limits In 2019, you can contribute up to $19,000 in your 401(k) and other employer plans and up to $6,000 in a Roth or […]
Austin, TX (May 1, 2018) – Lonestar Soccer Club, a nonprofit organization and the third largest youth soccer club in the nation with more than 6,800 players ranging from ages 4 – 19, is delighted to announce Austin Asset as the jersey sponsor for every select team’s jerseys for the 2018/19 – 2019/20 seasons. Austin Asset’s jersey sponsorship for Lonestar’s select programs is part of their ongoing commitment to giving back, recognizing it is a true representation of how wealth cannot only change their client’s lives, but also impact the lives of others.