Category Archives: Individuals


Taking the Good With the Bad: Unemployment and New Home Sales at Record Lows

14

Sep 2017

Taking the Good With the Bad: Unemployment and New Home Sales at Record Lows

Unemployment Stats The United States economy and labor market continue their comeback, with the summer’s numbers better than expected. According to July’s report from the Bureau of Labor Statistics, May and July’s unemployment rates (4.3 percent) were the lowest since 2001 and 209,000 jobs were added in July alone, about 15 percent more than predicted. Thanks to businesses that have been able to hire, July…

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To Each & Every One of Our Valued Clients…Thank You!

27

Apr 2017

To Each & Every One of Our Valued Clients…Thank You!

Another successful tax season has come and gone, and none of it would be possible without your loyalty and continued trust in our services. At Paragon Accounting Group, we never want you to forget how much we value our relationships with each and every one of you as our clients. Strong and reliable partnerships are what businesses are built on. We hope to continue to earn your business…

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ITINs: A Chance to Participate in the U.S. Tax System

24

Oct 2016

ITINs: A Chance to Participate in the U.S. Tax System

The influx of foreign nationals, non-resident foreign nationals, and immigrants into the United States each year is a demographic phenomenon that has been at the centerpiece of our political and economic discourse for an overwhelmingly large part of our history as a nation. There are a myriad of reasons foreign individuals come to the United States, but for most, the appeal is undeniably the economic…

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Mark Your Calendars: CA Sales Tax Rates Decrease, Effective Jan 1st, 2017

29

Sep 2016

Mark Your Calendars: CA Sales Tax Rates Decrease, Effective Jan 1st, 2017

January 1, 2017 – California state sales and use rate will decrease by 0.25% The California State Board of Equalization announced that, as of this date, the 0.25% increase in the statewide sales and use tax will expire. This was approved by voters in 2012 and became effective in 2013. Per prop 30, the statewide rate will drop from 7.5% to 7.25%. While many counties and…

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How Can A 529 Plan Help You Save For College?

22

Sep 2016

How Can A 529 Plan Help You Save For College?

First things first, a 529 plan is a state or educational institution savings plan created to help families save for college! Almost every state has an available 529 plan, and they can be used to help with the cost of qualified colleges all over the nation. Not sure if your college qualifies? Take a look at the list of eligible institutions here. So, how do…

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One Major Tax Law Every Homeowner Should Know About

16

Sep 2016

One Major Tax Law Every Homeowner Should Know About

Planning on selling your home? You may qualify for a deduction that every homeowner should know about. The $250,000/$500,000 exclusion is an extremely valuable tax law for homeowners. So, how do you know if you qualify? First, you must own and occupy your house for at least two years before you sell it. This can include condos, apartments, mobile homes, as well as stock-cooperative. If…

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How To Know If You Owe Gift Tax

07

Jul 2016

How To Know If You Owe Gift Tax

Are you a generous person? If you’re someone who loves the act of gift giving, you may have heard of the gift tax. The federal gift tax applies to those who have given large gifts or sums of money to friends or relatives. Here’s how to find out if you’re one of the lucky few that has to pay gift tax. The first thing to…

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Is Student Loan Debt Holding You Back?

16

Jun 2016

Is Student Loan Debt Holding You Back?

Everyone knows that putting money away for retirement is a smart idea. But what if something was standing in the way of building that nest egg? A recent poll from AICPA shows that student loans have been directly affecting adults in the United States that are trying to save for retirement. The poll states that half of those that either have student loans or who…

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Deadline Approaching: April 18th is the Last Day to File Taxes

13

Apr 2016

Deadline Approaching: April 18th is the Last Day to File Taxes

Still haven’t filed your taxes yet? Time is running out! Monday, April 18th is the last day to file taxes for 2015. Why the later date? The Capitol will be celebrating Emancipation Day on April 15th, giving you three extra days to get those pesky returns over to the IRS. Estimated tax payments are also due on April 18th. If you need some more time…

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Saver’s Credit: How To Know If You Qualify

12

Apr 2016

Saver’s Credit: How To Know If You Qualify

Do you currently put money into an IRA or 401k? If so, you may qualify for the Saver’s Credit! This credit may not only reduce the tax you owe, but it also can help you save for retirement. Those who qualify for the credit must be at least 18 year old, not a full time student, and not claimed as a dependent on someone else’s…

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