Early 401(k) Withdrawals: Penalties and Exceptions
Understand the penalties and exceptions for early 401(k) withdrawals to make informed decisions about your retirement savings.
How many dependents can I claim? – Requirements, How to Claim 2024-2025
Maximize your tax savings by understanding IRS dependent rules, qualifying criteria, and available tax benefits.
ITIN vs. SSN: What Non-U.S. Residents Need to Know to File Taxes
This guide explains the difference between an ITIN and SSN and helps non-U.S. residents determine which they need for tax filing.
Aging in Place: Tax Benefits for Seniors & Financial Planning
Discover how aging in place can offer significant tax advantages for seniors, potentially saving thousands on capital gains and preserving your estate.
Should You Take the Standard Deduction or Itemize?
Learn how to decide between the standard deduction and itemizing to minimize your tax bill this year.
Tax Credit vs Tax Deduction: Which is More Beneficial 2024-2025?
Tax season doesn’t have to be a headache. At XOA TAX, we believe that knowledge is power. Understanding the ins and outs of tax credits and deductions can significantly reduce your tax liability and maybe even put some money back in your pocket! Let’s break down these essential tax tools to help you maximize your […]
529 Plans: A Smart Investment in Your Future? (Tax Year 2024)
Learn about the advantages and disadvantages of 529 plans for saving for college and other qualified education expenses, including new 2024 tax implications and Roth IRA rollover options.
Tax-Efficient Investing: A Beginner’s Guide
Learn how to minimize your tax liability and maximize your investment returns with this beginner’s guide to tax-efficient investing strategies, covering tax-advantaged accounts, asset location, and state tax considerations.
What Do IRS Auditors Look For? Using ATGs to Avoid Tax Audits
Hey everyone, it’s XOA TAX, your trusted source for all things tax-related. Ever wished you could peek behind the curtain and see what IRS auditors are looking for when they review tax returns? Well, you actually can! The IRS publishes Audit Techniques Guides (ATGs) that provide valuable insights into their audit procedures for specific industries […]
Missed Tax Deadline? Don’t Panic! Here’s What To Do
It happens to the best of us. Life gets busy, deadlines sneak up, and suddenly you realize you’ve missed a crucial tax deadline. Whether it’s filing your income tax return, paying estimated taxes, or submitting a form, missing a deadline can be stressful. But don’t panic! The IRS has procedures in place to help you […]
