Tax season is coming—are you ready? Whether you’re dreading it, putting it off, or just plain confused, you’re not alone. But what if, this year, you could tackle your taxes with confidence and maybe even save some money along the way?
In this episode, Paul Allen and I are diving into things you need to know to prepare for tax season 2024. We cover people's most common questions about taxes and tips for preparing for filing. Plus, I revisit my favorite tax question, which I would like to ask Paul. Can I deduct my hair and makeup expenses?
Paul retired from the US Navy in 2010. Is now a Founding Member of PIM Tax Services, APFORIA, the Military Financial Advisors Association, and the Military Qualified Financial Planner Certification Program. Paul holds an MA in Financial Planning and Law, is an enrolled agent of the IRS, and holds the CFP® and MQFP® certifications.
https://milmo.co/podcast/prepare-for-tax-season-2024
01:06 Preparing for Tax Season 2024
03:59 Understanding Business Expenses
12:53 Tax Deductions and Record-Keeping
18:13 Handling Tax Mistakes and Changes
20:49 Maximizing the Clean Vehicle Credit
21:44 Understanding the 1099-K Form Changes
23:40 End-of-Year Tax Planning Tips
24:36 Military Spouse Taxation Issues
27:20 Preparing for Tax Season
28:01 Quickfire Questions and Recommendations
31:10 Fun Fact or Fiction Game
34:50 Conclusion and Resources
