Vintage-style advertising illustration promoting the benefits of tax gain harvesting.

Tax Gain Harvesting 101: Boost Your Cost Basis Without Triggering Taxes

Learn how tax gain harvesting allows you to strategically sell appreciated assets and immediately repurchase them, resetting your cost basis to minimize future tax liabilities.

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A vault door opening to reveal gold bars, symbolizing secured assets.

How to Lock in 0% Long-Term Capital Gains Tax Before a Bracket Increase

Tax planning is a year-round activity. Smart investors are always looking for ways to minimize their tax liability, and with the potential for tax bracket increases, now is the perfect time to explore strategies to lock in favorable rates. Did you know that if your taxable income falls within a certain range, you might qualify…

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Pencil illustration of a person reviewing financial documents and a stock market chart, representing the complexities of investment tax planning.

Stock Trading Taxes: How Much to Set Aside?

Stock trading can be an exciting way to grow your wealth, but it's important to remember that Uncle Sam wants his share of your profits. As a CPA, I often see people get caught off guard by the taxes owed on their stock trades, especially if they've had a particularly good year. To avoid an…

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People holding different 1099 forms with a calendar showing the filing deadline.

Comprehensive Guide to 1099 Forms: Types, Deadlines, and Filing Instructions for 2024

As a small business owner or independent contractor, the world of tax forms can seem daunting. One crucial aspect that often trips people up is understanding Form 1099. At XOA TAX, we're dedicated to simplifying the complexities of tax season. We're here to guide you through the ins and outs of 1099s for the 2024…

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A globe made of puzzle pieces labeled with tax-related terms.

Navigating Form 1040NR: A Comprehensive Guide for Nonresident Aliens Filing in 2025

This comprehensive guide explains Form 1040NR for nonresident aliens filing US taxes in 2025, covering filing requirements, income reporting, deductions, credits, tax treaties, FATCA, and more.

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A person carrying a Traditional IRA enters a Roth IRA through a door labeled "Backdoor Roth IRA."

Backdoor Roth IRA for High Earners: A Simple Guide (No Traditional IRA Needed)

Bypass Roth IRA income limits with the simple backdoor Roth IRA strategy—ideal for high earners with no existing Traditional IRA—and unlock tax-free retirement growth.

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A colorful block illustration of a chameleon transferring between branches labeled "Traditional IRA" and "Roth IRA."

Tax Consequences of IRA Recharacterizations: What to Expect When You Convert

Understand the tax consequences of recharacterizing or converting your IRA contributions to optimize your retirement savings strategy, and learn how XOA TAX can help you navigate these complex transactions.

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A person receiving a bonus check, with a speech bubble highlighting Roth IRA contribution limits.

Avoiding Roth IRA Contribution Surprises: Year-End Bonus Tips

Year-end bonuses can unexpectedly impact your Roth IRA contributions; learn strategies to avoid penalties and maximize your retirement savings with expert tax planning tips.

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Hand sorting coins, representing the Pro Rata Rule.

Understanding the Pro Rata Rule: What High Earners Need to Know About Roth Conversions

At XOA TAX, we regularly guide individuals on maximizing their retirement savings. Converting a traditional IRA to a Roth IRA is a popular tactic, but it's crucial to understand the implications of the pro rata rule before you begin. This rule can significantly impact your tax liability, especially for high earners considering conversions in 2024.…

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A person carrying a "Traditional IRA" bag walking through a "Roth IRA" doorway, bypassing obstacles like "Income Limits."

Navigating the Backdoor Roth IRA: A Step-by-Step Guide for High Earners

Roth IRAs offer fantastic tax advantages for retirement savings, but unfortunately, they come with income limitations. For 2024, if your modified adjusted gross income (MAGI) falls within the phase-out range—starting at $146,000 for single filers and $230,000 for those married filing jointly—your ability to contribute directly to a Roth IRA will be reduced or eliminated.…

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