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September 2024

JUDY HAMILTON, PAVING THE WAY FOR FUTURE GENERATIONS

We are proud to celebrate our partner, Judy Hamilton, for her incredible contributions to the accounting profession and her lasting impact on the students at SDSU. Paving the way for future generations, Judy has empowered many to pursue their ambitions and has inspired future leaders, including fellow partner and SDSU alumna Kim Spinardi.


Her dedication to mentoring others and advocating for female athletes reflects her passion for giving back to both her profession and community. Learn more about Judy’s inspiring journey and the legacy she continues to build at SDSU.


SDSU spotlight article

UNDERSTANDING THE $7,500 FEDERAL TAX CREDIT FOR BUYING AN ELECTRIC VEHICLE

Electric vehicles (EVs) have become increasingly popular. According to Kelley Blue Book estimates, the EV share of the vehicle market in the U.S. was 7.6% in 2023, up from 5.9% in 2022. To incentivize the purchase of EVs, there’s a federal tax credit of up to $7,500 for eligible vehicles.


The tax break for EVs and fuel cell vehicles is called the Clean Vehicle Tax Credit. The current version of the credit was created under the Inflation Reduction Act. Here are answers to some frequently asked questions.


Read on to learn more!

MAKING THE MOST OF THE HOME SALE GAIN EXCLUSION

If you sell your home, you might be able to pocket up to a half million dollars in gain from the sale without owing any federal income tax. How? By claiming the home sale gain exclusion. But various rules and limits apply, so it’s important to understand the ins and outs of this tax break.



Read on to learn more!

IT'S TIME FOR YOUR SMALL BUSINESS TO THINK ABOUT YEAR-END TAX PLANNING

With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your small business’s taxes for this year and next. The strategy of deferring income and accelerating deductions to minimize taxes can be effective for most businesses, as is the approach of bunching deductible expenses into this year or next to maximize their tax value.


Do you expect to be in a higher tax bracket next year? If so, then opposite strategies may produce better results. For example, you could pull income into 2024 to be taxed at lower rates, and defer deductible expenses until 2025, when they can be claimed to offset higher-taxed income. Here are some other ideas that may help you save tax dollars if you act soon.


Read on to learn more!

WHAT'S NEW AT HT2!

2024/2025 HT2 TAX PLANNING GUIDE

Our tax planning guide for 2024/2025 is now on our website! Click on our link to see how you can be proactive with planning for your future.


There are many categories from Tax Planning Basics, Investing, Real Estate, Business, Family & Education, Charitable Giving, Retirement and Estate Planning.


HT2 Tax Planning Guide

Timely Resources & Links

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