Life’s ups-and-downs can create unexpected tax consequences.
The professional advisors at Cloister Tax Services are ready to help avoid potential tax challenges associated with these and other life changes:
- Get a new job? Make certain you’re getting enough taxes withheld from your new paychecks.
- Get laid off or fired? We can help you steer clear of problems often associated with unemployment compensation, early retirement plan distributions, severance packages, and other matters related to losing a job.
Being your own boss can be exciting and rewarding. It can also create lots of complications when it comes to taxes. Self-employed individuals (unlike people who are employed by a company) need to manage their own tax payments based on their earnings. Unfortunately, people sometimes get lost in the process of being their own boss. They need a little guidance during the year to help avoid potential tax pitfalls. That’s where the advisors at Cloister Tax Services can be of great help. We help self-employed individuals understand how much money to set aside and eventually pay to the US Treasury, the Commonwealth of PA, and to the County. We can also advise on lots of other business-related matters. Check out the “Business Services” area of our site to learn more about how we can help you.
Congratulations! You’re married! If you’re curious how marriage is going to impact your taxes come and talk with the advisors at Cloister Tax Services. We can evaluate your combined income and provide guidance on how to plan for the inevitable impact marriage will have on your future taxes.
Divorces can be nasty and can cause significant tax complications. Nearly every divorce results in a split of financial assets. Often, when there are children from a marriage, these “deductions” get used as pawns between divorcing parents. There are no shortage of tax pitfalls and complexities for divorcees. The advisers at Cloister Tax Services will answer your questions about the taxes and divorce. Just call us and set an appointment.
- Babies… Bringing home a new bundle-of-joy ….
- Graduates… When children leave your household they often leave your tax return as well. Losing deductions on your taxes can seriously impact your taxes. Cloister Tax Services helps people understand how to plan for reductions in dependent exemptions on their taxes.
- Death of a spouse or child
- Legal settlements