This is a continuous thread for all your tax needs. We strive to make your tax work effortless, and remain your lifelong tax partner.
April 27
2025 personal return is filed and accepted.
Refund of $3,140, which is closer to zero than last year's $19,000 — that is deliberate. A large refund is an interest-free loan to the government, and the estimates are now sized to land inside the safe harbour rather than over it.
June 22
My employer granted ISOs this year. I have not exercised anything yet. Anything I should know before I do?
June 23
Yes, and the timing matters more than the amount.
Exercising an ISO is not a taxable event for regular tax, but the spread counts for AMT. Exercise too much in one year and you owe tax on income you have not received in cash.
The usual approach is to exercise up to the point where AMT starts to bite and stop. I can calculate that number for you, but I need the strike price, the current 409A valuation and how many are vested.
June 24
I will dig those out. Not urgent — I am not planning to exercise until the new year.
Then let us look at it in January with a full year ahead of us. I have put it on the tracker so it does not get lost.
September 20
The Meridian donor-advised fund receipt came through — $40,000. Worth saying why that was the right structure: you took the deduction this year against the higher K-1 income, and you can grant it out to charities over however long you like.
October 8
Revised estimates attached, reflecting the Kestrel depreciation and the higher salary.
Q4 is $28,400, due 15 January. That is $6,200 lower than the original schedule — the cost segregation study more than paid for itself in year one.
October 9
Scheduled it. Thanks Daniel.
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