Don’t Miss This Important Deadline
If you’re subject to required minimum distributions (RMDs), you must take your 2024 RMD by Dec. 31 to avoid penalties. RMDs are mandatory withdrawals from retirement plans such as 401(k)s,… Read More
Juanita Farmer, CPA
Juanita Farmer writes the blog "Financial Cents".
Juanita Farmer. CPA is the Managing Partner of J.D. Farmer & Associates, LLC, a Public accounting firm, located in Germantown, Maryland.
Ms Farmer has been practicing in the field of accounting and tax for over 27 years.
Feeling Charitable? Be Sure You Can Substantiate Your Gifts
As the end of the year approaches, many people give more thought to supporting charities they favor. To avoid losing valuable charitable deductions if you itemize, you’ll need specific documentation,… Read More
The U.S. Election Outcome Likely to Have Major Impact on Taxes
Having won control of the White House, the Senate and the House of Representatives, Republicans will have the opportunity to move forward their vision for federal taxes. What might this… Read More
Recovering Lost Documents and Receiving Tax Relief After a Natural Disaster
It’s common for individual and business taxpayers to lose financial records during a natural disaster. Unfortunately, you usually need such records to document losses for your insurance company and to… Read More
Want to Find Out What IRS Auditors Know About Your Industry?
To prepare for a business audit, an IRS examiner generally researches the specific industry and issues on the taxpayer’s return. Examiners may use IRS Audit Techniques Guides (ATGs). A little-known… Read More
Tax-Saving Moves Businesses Should Consider Before Year End
Now is a good time to consider year-end moves that can help reduce your business’s 2024 taxes. The effectiveness of a particular action depends on the circumstances of your business.… Read More
7 Year-End Tax Planning Tips for Individuals
As the holidays approach, it’s time to consider tax planning moves that will help lower your 2024 taxes, as well as set you up for tax savings in future years.… Read More
Added Protection for Your Personal and Financial Information
Protection is key when guarding your personal and financial information from fraudsters. That’s why the IRS offers a vital tool, the Identity Protection Personal ID Number (IP PIN). The IP… Read More
An IRA Withdrawal Strategy with Tax-Reducing Power
As the year winds to a close, your chance to lower your 2024 tax bill also winds down. If you’re age 70½ or older, you may want to make a… Read More
Business Succession and Estate Planning Should Be Inseparable
If you’re a business owner, your company is likely your most valuable asset. To ensure it survives after you’re gone, you first need a succession plan that will provide a… Read More
A Tax Break for Educators
Teachers who are getting ready for a new school year often pay for some of their classroom supplies out-of-pocket. They may be able to get some of that cost back… Read More
Tax Considerations When Choosing a Business Entity
Are you in the process of starting a business or contemplating changing your business entity? If so, you’ll need to decide how to organize your company. Should you operate as… Read More