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Jennifer Reynolds: How Unraveling the Complexity of Income Taxes Can Save Money
Manage episode 402149365 series 3465214
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Navigate the labyrinth of the federal income tax updates with Jennifer Reynolds, a senior lecturer in taxation and accounting at UT Tyler. Gain the critical knowledge to tackle this tax season head-on, including how to immediately apply credits for that new electric vehicle and maximize home energy improvements for both financial and planetary gain. Reynolds explains the IRS's Free File program, an essential tool for those with an income of $79,000 or less, and deciphers the true cost of enlisting a CPA, to help you decide whether it's worth the expense for you.
What are the tax consequences of a weekend garage sale hobby? Reynolds has the answers, like when to report earnings as income versus when it's "just decluttering." From Aunt Martha's entrepreneurial endeavors to the significance of accurate W-4 withholdings, Reynolds will ensure you're equipped with the knowledge to claim every credit you deserve. Consulting a CPA can be a game-changer, and this chat underscores the financial wisdom behind such a move.
Transcripts of all UT Tyler Radio Connects episodes are available at uttylerradioorg.
(Transcripts are automatically generated and may contain phonetic spellings and other spelling and punctuation errors. Grammar errors contained in the original recording are not typically corrected.)
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