Tag: standard deduction

Did you land your first job last year? Congratulations! While a new job is a major milestone, for both your life and your career, it leads to another one – filing taxes. Do you know how to file taxes for the first time? It sounds like a lot, we know. But as CPAs, we’re here to guide you through it, making it straightforward and stress-free. We’ve been in your shoes, facing those forms and tax rules for the first time. It seemed like a lot back then. But over the years, we’ve mastered the process, and now, we’re excited to share our insights with you. Our goal is to explain the tax system in…

Tax planning is not just a task for the end of the year; it’s a continuous process that can significantly impact your financial health. At Lucia & Co. CPAs, we emphasize the importance of understanding tax strategies to ensure you’re making the most of your money. Dive into this comprehensive guide to explore key tax planning strategies and concepts that can help you optimize your financial situation. 1. Understand Your Tax Bracket What are tax brackets? Tax brackets are foundational pillars of the U.S. progressive tax system. Your taxable income, which is your total income minus allowa…