TrueBond Financial

10/01/2024

Once you've pinpointed your income sources, the next step in retirement income planning is to determine what expenses you will be paying for throughout your retirement. Doing so will give you a clearer picture on how much money you will need to save for to live comfortably in retirement. If you're looking for any assistance with your retirement plan, we're here to help. Call us at (510) 730-9232 to schedule your appointment today.

09/30/2024

Retirement income planning is when you examine your expected retirement income and the possible expenses to create a strong financial plan to fund your retirement. One of the first steps is to identify what will be funding your retirement and how much you will be receiving. We're happy to help get your retirement plan started. Contact us today at (510) 730-9232

09/28/2024

Tax season is a stressful time for a lot of us; however, by planning strategically and making informed tax decisions ahead of time, you can reduce the risk of accumulating tax debt and more easily navigate the complex world of taxation. Make these smart money moves to maintain financial stability for years to come.

Tax season can be a stressful time for many individuals, and the fear of accumulating tax debt looms large. However, with strategic planning and informed decisions, you can navigate the complexities of taxation and reduce the risk of finding yourself in debt to tax authorities. In this blog post, we...

09/25/2024

Have you heard of the Consumer Financial Protection Bureau (CFPB)? This free government website can help you get your finances organized! Your Money, Your Goals (YMYG) is a financial empowerment toolkit created by the CFPB that equips frontline staff with tools and skills to empower clients in understanding their own financial situations and connects them to resources available in their community. You can access PDF versions of the toolkit, or even get a free one mailed to you. It's time to get your finances in check! Contact us at (510) 730-9232 to discuss fiscal strategies for your situation today. https://bit.ly/4cVbRIP

09/24/2024

In some states, putting your new home into a trust can protect your heirs from going through the probate process. Going through probate can incur extra costs, time, and hassle. Want to learn more about protecting your assets? Contact us at (510) 730-9232.

09/23/2024

A will, trust, power of attorney, beneficiary designations, healthcare orders, and tax planning are all commonly included in estate planning. Contact us today at (510) 730-9232 for more information about our services.

09/21/2024

For self-employed business owners, claiming a home office tax deduction is an advantageous strategy; however, the IRS sets very specific requirements in order to be eligible to qualify for the deduction. Having a detailed record-keeping process is essential in ensuring a smooth home office deduction claim.

As a self-employed business owner, the prospect of claiming a home office tax deduction can significantly impact your bottom line. Understanding the criteria for eligibility is crucial for optimizing this deduction and reducing your taxable income. In this blog post, we'll explore who can claim a ho...

09/18/2024

Maintaining proper documentation, time management skills, and automating daily tasks can significantly help your organization and success as a business owner. Maintain accurate records of your business finances through recording every transaction into the proper accounts on a weekly basis. Keep copies of all your invoices, cash receipts and cash payments as well for tax purposes. Need other business tips? Contact us at (510) 730-9232 – we’d love to help!

09/17/2024

Remember, if the IRS needs to contact you, they will by mail first. If you receive any emails, calls, text messages, or DMs claiming to be the IRS stating you have an overdue tax or information about your tax refund, these are warning signs of fraud. If you do receive mail from the IRS, search their website for information on understanding your letter to verify if it is authentic. Be wary of anyone showing up to your home or business claiming to be from the IRS as they ended all unannounced visits in 2023. Contact the IRS to report anything you think is suspicious. Call us at (510) 730-9232 for more tax information.

09/16/2024

For the tax year 2024, a nonrefundable clean vehicle (CV) tax credit of up to $7,500 is available for buying certain new fully electric, plug-in hybrid and fuel-cell electric vehicles. Alternatively, a credit of up to $4,000 is available to taxpayers purchasing eligible used vehicles. Vehicle eligibility and the size of the credit depend on factors such as the cost of the vehicle whether it satisfies certain manufacturing requirements and the taxpayer’s annual income.

09/14/2024

“I own a business, but I’m late on filing taxes. What should I do?” While being behind on payments and taxes can lead to penalties, there are some steps you can take to navigate the process and ensure that your business stays on track with tax obligations.

Filing taxes late can be a daunting situation for any business owner. Whether it's due to unforeseen circumstances, administrative oversights, or simply procrastination, being behind on tax filings can lead to penalties and headaches. However, not all hope is lost. In this guide, we'll walk you thro...

09/11/2024

Maintain accurate documentation if you have a mortgage. Your house loan interest may assist in decreasing your taxable income. The tax deduction for mortgage interest is marketed as a means of lowering the cost of homeownership. By deducting the amount of mortgage interest paid from your taxable income, eligible homeowners pay less in federal income tax. For more personalized information, contact us at (510) 730-9232.