Tax & Financial Insights
We frequently publish new articles about how to master your taxes, money — and your life. Here are a few of our most recent pieces.
The Power Duo: Tax Advisor and Financial Advisor
1. They Can Save You Money Working with a tax advisor can save you some serious dough. While their services may cost more than self-filing with tax software, it’s worth the investment. Here’s why: Expertise: Tax advisors speak IRS...
Read MoreUnderstanding the Difference: Long-Term and Short-Term Capital Gains Taxation
Capital gains are essential to investing and can significantly impact your financial portfolio. When you invest in stocks, real estate, or other assets, you aim to grow your wealth over time. However, it's crucial to understand how...
Read MoreUnlocking Your Financial Potential: Innovative Fiscal Strategies in Blue Springs
Understanding fiscal strategies Fiscal strategies are essential tools to manage your finances effectively. In simpler terms, fiscal strategies are plans you can use to handle your money wisely. Understanding these strategies...
Read MoreUnderstanding Investment Taxes: A Guide for First-Time Investors
What are investment taxes? Investment taxes are taxes that apply to any profits you make on your investments. When you sell an investment, you may be subject to capital gains taxes on the profit you earned. If you receive...
Read MoreNavigating Back Taxes: A Guide to Resolving Them with Expert Help
Understanding Back Taxes Back taxes—those lingering financial ghosts from previous years—can haunt your financial peace of mind. Whether you missed filing a return, underreported income, or miscalculated deductions...
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Your Business Tax Return is DUE!
March 15th is quickly approaching Tip Category: Miscellaneous March 15th is the tax-filing due date for 2023 calendar year S corporations and partnerships. While this filing deadline does not require making a tax payment,...
Read MoreUnderstanding tax saving for investors
Investors can benefit from various tax-saving strategies to maximize their returns. Understanding tax-saving opportunities can help investors reduce their tax liabilities and increase their profits. Some common tax-saving...
Read MoreWhen to Expect Your 1099
If you receive income from investments, dividends, education savings plans, or contract work, you’re undoubtedly familiar with IRS Form 1099. By the time April 15th rolls around, you might have even collected a hefty...
Read MoreHow to File Your Child’s First Income Tax Return
Filing an income tax return for your child may be one of many things that come to mind when you think about their financial responsibilities. However, it's essential to introduce them to the world of taxation early on. Teaching...
Read MoreNo Check! Where's Your Proof? What you need to do NOW!
Preparing to file your tax return is a great time to ensure you have proper documentation to substantiate your tax deductions. This is important as many banks start deleting online documentation that is over one year old. Background...
Read MoreWhat Happens If You Don't File a Tax Return?
Tax season can be a stressful time of year for many individuals and businesses. Filing your tax return accurately and on time is not just a legal obligation but also essential to avoid potential consequences. However, some...
Read MoreWhy Partner with a Dave Ramsey ELP for Comprehensive Tax and Investment Advice
Understanding Dave Ramsey ELPs Dave Ramsey ELPs, or Endorsed Local Providers, are professionals approved and guided by Dave Ramsey to provide comprehensive tax advice. They undergo rigorous training and are...
Read MoreUnderstanding Fiscal Planning: Tips for Reducing Tax Liabilities
What is fiscal planning? Fiscal planning involves managing your financial resources to minimize tax obligations. It includes strategic decision-making to optimize your financial situation and reduce tax liabilities. Key...
Read MoreHow Tax Planning Works and Why You Should Do It
Taxes are a significant part of our financial lives, and understanding how tax planning works can profoundly impact your overall economic well-being. Tax planning involves strategizing and optimizing your financial affairs to...
Read More5 Estate Planning Strategies for Jackson County Taxpayers in 2024
Here at the beginning of 2024 (okay, a month in) as you consider this year’s goals, might I posit “Save money on taxes” as one of them? We are facing another tax filing season (Jan 29 – April 15), and the dread...
Read MoreCommon Missing Items = DELAYS of Processing your Tax Return
Double-check this list of items that often cause delays with both filing your tax return and getting your much anticipated refund. Missing W-2 or 1099. Using last year's tax return, make a list of W-2s and 1099s. Then use the list...
Read MoreTaxes That You May Owe When Selling a House
Selling a house can be a significant financial transaction, and while you may be excited about the prospect of moving on to a new chapter, it's essential to be aware of the potential tax implications. Depending on your specific...
Read MoreWhat Makes a Charitable Contribution Tax Deductible
Charitable giving has been a cornerstone of philanthropy for centuries. It allows individuals and organizations to support causes they are passionate about, ranging from education and healthcare to social welfare and environmental...
Read MoreNavigating the Complexities of Business Tax Planning for Female Entrepreneurs
Understanding business tax planning Business tax planning involves strategizing to minimize the amount of tax a female entrepreneur must pay. To understand business tax planning, it's essential to learn about various tax...
Read MoreThe Effect of Student Loans on Your Taxes
Higher education is a valuable investment in one's future, offering opportunities for personal growth and career advancement. However, pursuing a college degree comes with a hefty price tag for many individuals. Many students...
Read MoreUnderstanding tax filing services for retirees
Retirees have specific tax filing needs that may differ from those of working individuals. Here are some key points to understand about tax filing services for retirees: Retirement income, such as pensions, social security,...
Read MoreTax Appointment Musts for Jackson County Tax Payers
Playoff season in the NFL is always action-packed. Add crazy weather, and things get even more interesting. Kansas City fans shivered their way through sub-zero temperatures — the 4th coldest game in NFL history —...
Read MoreWill You Be Paying Taxes in Retirement?
Retirement is a much-anticipated phase of life, representing when you can finally bid farewell to the daily grind and enjoy the fruits of your labor. As you plan for retirement, one crucial aspect to consider is your tax...
Read MoreThe Impact of AI in Personal Finance for Everyday Jackson County Residence
We’re still waiting for the IRS to declare open season for filing. But even though we don’t know the start date, that doesn’t mean you can’t book your tax filing appointment now. When you’re ready...
Read MoreUsing a Ghost Preparer? Who You Going to Call When the IRS Comes Knocking
As people begin to have their 2023 tax returns prepared, this is a reminder to avoid unethical “ghost” tax return preparers. A ghost preparer is someone who charges for but doesn't sign tax returns they prepare....
Read MoreTax Deductions Available for Self-Employed Individuals
Being self-employed comes with a sense of freedom and control over your work, but it also brings its fair share of responsibilities, including managing your taxes. The good news is that self-employed individuals can access...
Read MoreTop Three Tax Changes for 2023
A new tax year is here, bringing several impactful changes to standard deduction and child tax credit amounts, retirement plan contributions, and more. Here are three of the most important tax changes we’re keeping in mind as we...
Read More2024 Tax Credits & Deductions for Jackson County Taxpayers
Before I get you thinking about the new year and being tax savvy, let’s first address the 2023 tax filing season, which is fast approaching. It’s a good idea to go ahead and get on my schedule now to handle your 2023...
Read MoreExploring the Financial Perks: Types of Income that are Not Taxable
Income taxation is fundamental to any economy, helping governments fund public services and initiatives. However, not all sources of income are subject to tax. Various categories of income fall under the umbrella of non-taxable...
Read MoreThe Best Way to Manage Your Small Business Taxes
As a small business owner, navigating the intricacies of taxes can be daunting. Small business taxes can seem like a maze, from filing deadlines to deductions and credits. However, with careful planning and organization,...
Read MoreCryptocurrency and Taxes: What You Need to Know
Cryptocurrencies have revolutionized the financial landscape, offering individuals a decentralized and borderless means of transacting value. However, the innovative nature of these digital assets has brought forth many...
Read MoreNavigating Social Security Tax: What Happens When You Stop Paying
Social Security tax is crucial to the financial lives of many working individuals. It supports the Social Security program, which benefits retired, disabled, and survivors of eligible workers. Understanding the implications of...
Read MoreExploring Tax Breaks for Caregivers
Caregivers are the unsung heroes of our society, selflessly dedicating their time and energy to provide care and support to those in need. Whether it's caring for aging parents, a disabled family member, or a loved one with...
Read MoreAspects of your financial life to review as the year closes.
The end of the year can remind us of last-minute things we need to address and the goals we want to pursue. Here are some aspects of your financial life to consider as this year leads into the next. Remember that this article is...
Read MoreHow Living and Working in Different States Affects Your Taxes
In an increasingly interconnected world, it's not uncommon for individuals to live in one state while working in another. This lifestyle choice can come with various benefits, such as better job opportunities, a lower cost of...
Read MoreNavigating the Tax Implications of a Side Gig: What You Need to Know
In today's fast-paced and financially demanding world, it's becoming increasingly common for individuals to seek additional sources of income beyond their primary jobs. Whether freelancing, consulting, driving for a rideshare...
Read MoreExploring The Difference Between Tax-Free and Tax-Deferred
When managing your finances and planning for the future, understanding the various investment and savings options available to you is crucial. Two terms often come up in discussions about financial planning are "tax-free" and...
Read MoreMaximizing Savings: A Guide to Tax Breaks Available for Homeowners
Owning a home is not only a significant financial achievement but also comes with several financial perks, particularly regarding tax breaks. These tax incentives are designed to ease the burden of homeownership and encourage...
Read MoreExploring the Benefits of Tax-Free Savings Accounts: A Comprehensive Guide
Investing in tax-efficient savings accounts is a key strategy when securing your financial future. Tax-free savings accounts, as the name suggests, offer a unique advantage by allowing you to grow your money without the burden...
Read MoreStrategies for Reducing Taxes Paid on Capital Gains
Regarding investing, capital gains can be a significant source of income. However, the tax implications of capital gains can eat into your profits if not managed strategically. The good news is that there are legal and ethical...
Read MoreThe Ins and Outs of the Home Office Deduction
The pandemic changed the landscape of work for a lot of people, including the numerous business owners who began running their businesses from their homes. Many are still working from their home offices, whether full-time or...
Read MoreThe Fastest Way to Create Wealth
What’s the fastest way to build wealth? Your family may tell you it’s by going to college and finding a high-paying career, and your friends may say that you should ditch the 9-5 to build a business. Some would say paying...
Read More3 INVESTMENT STRATEGIES YOU NEED TO KNOW
1. Tax-Loss Harvesting Tax-loss harvesting is a strategic investment technique that minimizes tax liability and enhances overall portfolio returns in non-retirement accounts. This method involves selling investments that have...
Read MoreMY BRUTALLY HONEST REVIEW OF 401(K) PLANS
Investment accounts like the 401(k) plan often take center stage when securing our financial future. But just like any financial tool, a spectrum of features can make them a hit or a miss for different individuals. In this...
Read More9 STRATEGIES FOR GENERATING TAX-FREE PORTFOLIO INCOME
Imagine you receive your paycheck, and find that no taxes were withheld. WOW! That's a much larger number. Most people don't realize that they can minimize or in some cases, eliminate their tax liability in retirement. So this begs the...
Read MoreMinimizing Capital Gains Tax on Sale of a Home
If you're looking to sell your home this year, then it may be time to take a closer look at the exclusion rules and cost basis of your home to reduce your taxable gain on the sale. The IRS home sale gain exclusion rule allows an...
Read MoreIs Your College Student's Scholarship Taxable?
May 1 is the traditional deadline for undergraduate students to commit to their college of choice, which means tuition payments are not far behind. If you are wondering if your child's scholarships are taxable, here is what you should...
Read MoreWhat To Know About Reverse Mortgages
Home equity represents a significant portion of the average retiree's wealth. If you're 62 or older and house-rich but cash-poor, a reverse mortgage loan allows you to convert part of the equity in your home into cash - without...
Read MoreTax Withholding for Seasonal and Part-Time Employees
Many businesses hire workers for only part of the year, especially in the summer. The IRS classifies these employees as seasonal workers, defined as employees performing labor or services on a seasonal basis (i.e., six months or less)....
Read MoreWhat Is a Roth 401(k)?
While many people are familiar with the benefits of traditional 401(k) plans, others are not as acquainted with Roth 401(k)s.Since January 1, 2006, employers have been allowed to offer workers access to Roth 401(k) plans. And some have...
Read MoreSaving for Education: Understanding 529 Plans
Many parents are looking for ways to save for their child's education, and a 529 Plan is an excellent way to do so. Even better is that, thanks to the passage of tax reform legislation in 2017, 529 plans are now available to...
Read MoreChanging Jobs? Don't Forget About Your 401(K)
One of the most important questions you face when changing jobs is what to do with the money in your 401(k) because making the wrong move could cost you thousands of dollars or more in taxes and lower returns.Let's say you work five...
Read MoreTips on How to Push Through a Recession
Recessions can be worrisome. Factor in uncertain times globally and you may wonder where this leaves you financially if you find yourself in this position. The key is not to overthink your situation and remain flexible. However, that...
Read MoreWhat’s Going On With The Banks?
We wanted to share a quick update in light of the recent news about Silicon Valley Bank (SVB) and discuss our thoughts on its impact on the markets and future Fed moves.What happened?Regulators seized the assets of SVB on Friday, March...
Read MoreProtecting Jackson County People from IRS Scams
Here we are … already February is in the rearview. And while this is undoubtedly a less hectic tax season than the past three, it doesn’t mean things are easy. Taxes have traps for the unwary all over the place. A...
Read MoreWhat To Do if You're Missing Important Tax Documents
As the April 18th tax deadline quickly approaches, last-minute tax filers should make sure they have all their documents before filing a tax return. You should have received a Form W-2, Wage and Tax Statement, from each of...
Read MoreAre You Caring for a Disabled Family Member? Read This.
Many taxpayers prefer to care for ill or disabled family members in their homes instead of placing them in nursing homes, but doing this can be expensive, time-consuming, and exhausting. The government also recognizes home care as a...
Read MoreUnderstanding the Tax Credit for Other Dependents
Taxpayers with dependents who don't qualify for the Child Tax Credit may be able to claim the Credit for Other Dependents. They can claim this credit in addition to the Child and Dependent Care Credit and the Earned Income...
Read MoreWho should inherit your wealth?
The decision of who should inherit your wealth is personal and will depend on your circumstances and preferences.One option is to leave your wealth to your spouse or other family members, such as your children or parents. This can be a...
Read MoreMissouri enacts SALT Parity Act creating 2022 income tax saving opportunities for partnership and S-
On June 30, 2022, Governor Mike Parson signed HB 2400 which contained the SALT Parity Act. The Act is similar to laws enacted in many other states in response to the 2017 Tax Cuts and Jobs Act’s (TCJA) limitation on the...
Read MoreMike Mead, EA, CTC on Private Foundations as Giving Strategies
Things have certainly picked up for us here at Alliance Financial & Income Tax … we can already tell that we will be quite busy from now until April.Regardless, just a little bump that it would be a very good idea to get on our...
Read MoreWhat You Need for Your Kansas City Tax Appointment
If you were watching football this weekend, you likely noticed TurboTax’s “personalized service” ads. Their timing was impeccable… if not slightly annoying – who wants to think about taxes while on the...
Read MoreHelping Your Widowed Senior Loved One Manage Their Finances
The sorrow attached to the loss of a loved one can seem insurmountable by itself – and that’s without factoring inthe financial burdens often associated with losing a spouse. Luckily, in the event that a senior you care for...
Read MoreThe link between money and mental health for Kansas City families.
Read MorePaying Bills in 2023: Mike Mead, EA's Tips
Last week, the IRS announced the “official” beginning of the 2023 tax season – January 23. That’s the date that they start accepting electronically filed returns. (Yes, some Kansas City people really do file...
Read MoreIndividual Kansas City Taxpayers: Tax Changes for 2023
Every year, it's a sure bet that there will be changes to current tax law, and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here's a checklist of tax changes to help you...
Read More4 Financial Goals Jackson County People Can Reach In 2023
I want to help you today. With your resolutions, that is.You see, if you take a look at the most common resolutions (lose 20lbs, work out more, quit smoking, read more & watch less, etc. etc. etc.) they’re all pretty similar...
Read More5 Ways to Achieve Financial Freedom
Financial freedom is something that everyone strives for, but it can be challenging to achieve. It requires discipline, planning, and a willingness to make sacrifices in the short term for long-term gain. However, with a little effort...
Read MoreTaxpayers May Qualify for More Than One Filing Status
Your tax filing status may affect your tax rate, standard deduction amount, eligibility for tax credits, and other factors influencing the amount of tax you owe. If you qualify for more than one filing status, you must review your...
Read MoreIt's Tax Time! Tips to Get Organized
The beginning of a new year brings the need to recap the previous one for Uncle Sam. Here are some tips and a checklist to help get you organized.Look for your tax forms. Forms W-2, 1099, and 1098 will start hitting your...
Read MorePlan Your Retirement Savings Goals for 2023
A big jump in cost-of-living calculations means a big jump in how much you can contribute to retirement accounts in 2023! Now is the time to plan your retirement contributions to take full advantage of this tax benefit. Here...
Read MoreHow to Help Your Employees Embrace Digital Transformation
Digital technology can improve business operations in many ways. For example, cloud-sharing platforms simplify document sharing, while project management software makes it easier to track deliverables within teams. As a business owner,...
Read MoreUnderstanding Marginal vs. Effective Tax Rates
Understanding marginal and effective tax rates is important for tax planning purposes; however, many taxpayers don't fully understand the differences. Let's take a closer look:Marginal Tax RateThe United States has a...
Read More2022 Individual Taxpayers: The Year in Review
As we close out the year and get ready for tax season, here's what individuals and families need to know about tax provisions for 2022.Personal ExemptionsPersonal exemptions are eliminated for tax years 2018 through 2025...
Read MorePeople and families paying for disability-related expenses should consider an ABLE savings account.
People with disabilities and their families can use Achieving a Better Life Experience or ABLE accounts to help pay for qualified disability-related expenses. ABLE accounts are tax-advantaged savings accounts that don’t...
Read MoreThe Saver's Tax Credit
The Saver’s Tax Credit is a tax benefit for workers who contribute to a retirement plan or Individual Retirement Account (IRA). The Saver’s Tax Credit is referred to in IRS tax forms as the “Credit...
Read MoreSmall Business Taxpayers: The Year in Review
Here's what business owners need to know about tax provisions for 2022:
Read MoreYear-end Tax Planning Strategies for Individuals
General tax planning strategies for individuals include accelerating or deferring income and deductions and carefully considering timing-related tax planning strategies concerning investments, charitable gifts, and retirement planning. For
Read MoreVirtual Tax Preparation the easy way
A recent survey by Nerdwallet shows that more than 1 in 3 U.S. taxpayers whose household income is less than $50,000 a year hired a tax professional to assist with the preparation of their Income Tax Returns. However,...
Read MoreStudent Loan Forgiveness Application: Everything You Need to Know
Well, it’s the moment borrowers have been waiting for: The student loan forgiveness application is live.
Read MoreFastest Ways to Catch Up on Your Retirement Savings
Only 37% of working adults feel like their retirement savings are on track. Even more alarming, almost one out of every five Americans between the ages of 45 and 59 (17%) are barreling closer to retirement age with nothing saved for retirem
Read MoreESA vs. 529: Which Is Better for You?
A college savings account is an incredible gift to give your children or grandchildren. It can help them graduate from college debt-free, which gives them a firm foundation to start building their life! So, whether Junior is 8 weeks old or
Read MoreHow to Survive an Audit
If you receive notification of an IRS office audit, knowing what to do can be the difference in whether or not you survive it. Here are the critical steps you should take:
Read MoreWhat Does the Inflation Reduction Act Mean to You?
On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 which is a scaled-back version of the prior Biden administration proposals originally included in the Build Back Better Act. The...
Read MoreTaxpayers should be sure to have all their info before going to a tax professional.
Taxpayers using a professional tax preparer should make sure they have all their information readily available before their appointment. Collecting their information and getting copies of any missing documents before taxpayers sit down to p
Read MoreWho Is Your Trusted Contact?
Investment firms have a client service feature that may be a benefit to certain investors. They will ask you whether you would like to provide the name and information of a trusted contact.1
Read MoreTake Tax Advantage of a Low-Income Year
People generally assume that tax planning only applies to individuals with the big bucks. But think again, as some tax moves benefit lower-income taxpayers and those who are having a lower-than-normal income year.
Read MoreNOT ALL INTEREST IS DEDUCTIBLE FOR TAXES
A frequent question that arises when borrowing money is whether or not the interest will be tax deductible. That can be a complicated question, and unfortunately not all interest an individual pays is deductible. The rules for deducting int
Read MoreNew Job? Don't Forget About Your 401(K)
One of the most important questions you face when changing jobs is what to do with the money in your 401(k) because making the wrong move could cost you thousands of dollars or more in taxes and lower returns.
Read MoreWill Your Planned Retirement Income be Enough After Taxes?
That is an important question because the actual money you have to spend when you retire depends upon the after-tax sources of your retirement income. Thus it is important to understand how the various retirement vehicles are taxed.
Read MoreUnderstanding S&P 500 Index Funds
Not sure which funds to invest in for retirement? We hear you.You’ve probably heard a lot about S&P 500 index funds. It’s a bit of an investing buzzword. But what are S&P 500 index funds and are they a good place...
Read MoreWill the Stock Market Crash in 2022?
For investors, 2022 has been quite a roller coaster. Worries about inflation, rising interest rates, and Russia invading Ukraine in February sparked another wave of volatility for the stock market.1,2 All this fear and...
Read MoreSummer Activities That Could Affect Your Tax Situation
Although the tax return filing deadline has come and gone, it's never too early to start planning for next year's tax return. With that in mind, let's take a look at some common summertime situations that could affect your taxes:
Read MoreWays To Maximize Business Tax Deductions
As a small business owner, you should always be on the lookout for legitimate ways to minimize your taxes. Waiting for year-end to do your tax planning can be too late and you may miss many possible opportunities. The following are valuable
Read MoreHow to Retire With Confidence in Any Market Environment
Whether you recently retired or are planning to in the months ahead, you may be wondering how current financial and economic conditions may impact your plans. Do you need to adjust your spending to accommodate inflation or...
Read MoreHow to Save for Retirement Without a 401(k)
But even if you don’t have a 401(k) option or if your plan doesn’t include an employer match, don’t panic! You still have plenty of options to help you save for retirement even without a 401(k). With great options like the Roth IRA (our fav
Read MoreDon't Overlook Your Charitable Contributions
Your charitable contributions include a wide variety of tax-saving opportunities, some you may not be aware of and some that are frequently overlooked. And there are some contributions that you may believe are deductible that really are not
Read MoreIs the Housing Market Going to Crash?
Are we heading for the end of the American economy? Is the housing market going to crash? Is this generation going to be priced out of the housing market and never be homeowners? No, no, and no.
Read MoreRMD and IRA-To-Charity Distribution Provisions
The tax law permits individuals aged 701/2 or over to transfer funds from their IRA accounts to charities in what is referred to as Qualified Charitable Distributions (QCDs). These QCDs are not taxable and where a taxpayer is also required
Read MoreSOLD OR THINKING OF SELLING YOUR HOME?
If you sold your home this year or are thinking about selling it, there are many tax-related issues that could apply to that sale. To help you prepare for reporting the sale you may have already made or make you aware of what issues you may
Read MoreInflation Stimulus Checks Are Coming to These States
Inflation stimulus checks are relief funds set aside to help people cope with the high costs of goods and gas (thanks to inflation). With inflation reaching its highest rates in 40 years and the average gas prices breaking records daily, it
Read MoreYOU MAY RECEIVE AN IRS FORM 1099-K THIS YEAR
Congress reduced the 1099-K reporting threshold for 2022 from $20,000 to $600 looking for unreported income from gig economy activities and transactions. As a result, even someone not operating a business could receive a 1099-K that they ma
Read MoreHow to Prepare for a Recession
Recession.Just hearing that word can cause some people to clench their teeth, clutch their chest, and run to the bank. With crazy high inflation, gas that’s around $5 and rising interest rates, you’ve probably heard...
Read MoreSettling Tax Debt With an IRS Offer in Compromise
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles a taxpayer's tax liabilities for less than the full amount owed. That's the good news. The bad news is that not...
Read MoreSTUDENT LOAN DEBT - PAYING AND AVOIDING IT, PLUS TAX BENEFITS
Despite recent rounds of forgiveness for thousands of borrowers, nearly 43 million Americans are responsible for roughly $1.6 trillion in federal student loans which results in a significant long-term burden for students after...
Read MoreWhy Should I Invest 15% of My Income for Retirement?
Nowadays, everyone seems to be an expert on investing. How much to invest, where to put your money, and when to get out before the value drops. So, who do you believe? What are the right answers? Why does this stuff seem so...
Read MoreWhat to Know If You're Selling Your Home This Year
In most cases, gains from sales are taxable. But did you know that if you sell your home, you may not have to pay taxes? Here are ten facts to remember if you sell your home this year.
Read MoreHow to Become a Millionaire
So you want to be a millionaire, huh? Awesome! But is it realistic? Don’t you need a high-paying job or a winning lottery ticket? Well, we’ve got good news for you. You can become a millionaire—and it has nothing to do with your family’s m
Read MoreTAX TIPS FOR RECENTLY MARRIED TAXPAYERS
This is the time of year for many couples to tie the knot. When you marry, here are some post-marriage tips to help you avoid stress at tax time.
Read MoreTips to Help You Get Started Saving for Retirement
It's never too late to start saving for retirement, but the sooner you begin, the more time your money has to grow. That's because gains each year build on the prior year's gains thanks to the power of compound interest - and it's the best
Read MoreTIPS FOR STUDENTS PLANNING TO WORK DURING THE SUMMER
As the summer break from school approaches, many students are looking for part-time summer employment. Both parents and the students should make themselves aware of the various tax issues that must be considered when working a summer job to
Read MoreDO YOU UNDERSTAND TAX LINGO?
Virtually everyone is subject to income tax and should know the basic terms associated with taxes, such as filing status, head of household, dependents, exemptions, itemized deductions, adjusted gross income, modified adjusted gross income,
Read MoreEvery problem has a solution
But for several million people each year, the annual dance with the IRS is not yet finished. These are the folks that owe Uncle Sam money. If that’s you, don’t fret: It’s not the end of the world, and you have options.
Read MoreUNDERSTANDING WHAT INNOCENT SPOUSE RELIEF IS, AND WHETHER YOU NEED IT
What happens if your spouse turns out to be a tax cheat, and you signed a joint tax return without realizing it. Can you be held responsible? Learn more.
Read MoreHappy Birthdays From The IRS
Whether a specific tax law applies to you, or your dependent may hinge on your or the dependent's age. Sometimes reaching a certain age provides a tax benefit, while in other cases once a specific birthday is celebrated there's a tax "penal
Read MoreIMPORTANT TIMES TO SEEK ASSISTANCE
Waiting for your regular appointment to discuss current tax-related issues can create problems or cause you to miss out on beneficial options that need to be timely exercised before year-end. Generally, you should seek professional assistan
Read MoreWHEN CAN YOU DUMP OLD TAX RECORDS?
Generally, tax records should be kept for 3 years from the due date of the return to which they apply. The statute of limitations can be longer if there is fraud, or a return was not filed. Add 2 years if your state statute is longer.
Read MoreOWE THE IRS MONEY? HOW LONG DO THEY HAVE TO COLLECT?
The IRS generally only has three years from the April filing due date or the date you filed your return if later, to assess additional taxes. However, the 3-year statute of limitations is increased to 6 years when taxpayers underreport the
Read MoreELECTRIC VEHICLE CREDITS PHASING OUT
If you are considering purchasing an electric vehicle, you may need to make that decision sooner than later since the credit for many popular models is beginning to phase out.
Read MoreTOSS YOUR PAYSTUB EVERY WEEK? MAYBE IT’S TIME TO TAKE A CLOSER LOOK
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RETURN BEING PROCESSED MEANS THE IRS RECEIVED YOUR TAX RETURN, BUT IT COULD STILL BE DELAYED.
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Check the status of a refund in just a few clicks using the Where’s My Refund tool
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Important Enhancements to The Earned Income Tax Credit for 2021
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Hobby or For-Profit Activity? The Answer Make a Big Difference For Tax Purposes
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Did you have an advance payment of the Child Tax Credit issued to you, but did not receive it?
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Here are reasons people who don’t normally file should file a 2021 tax return
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Your 4% Withdrawal Strategy May Not Be Enough
YOUR 4% WITHDRAWAL STRATEGY MAY NOT BE ENOUGH Get the Tax Guidance You Need to Help Live the Retirement You Desire There’s a lot of concern among industry experts about whether the popular 4% withdrawal rule can provide enough income...
Read MoreImportant Information About Charitable Giving This Year
The first step when deciding where to make donations is to visit IRA.gov and use the Tax Exempt Organization Search tool to search for information about an organization's federal tax status and filings. Here are several facts about this val
Read MoreTax Benefits of Health Savings Accounts
While similar to FSAs (Flexible Savings Plans) in that both allow pretax contributions, Health Savings Accounts or HSAs offer taxpayers several additional tax benefits. Let's take a look: What is a Health Savings Account? A Health...
Read MoreShared Custody and Advance Child Tax Credit Payments
Parents who share custody of their children may be confused about how the advance child tax credit payments are distributed. As such, the first step is to remember that these are advance payments of a tax credit that taxpayers expect...
Read MoreIRS announces changes to retirement plans for 2022
Next year taxpayers can put an extra $1,000 into their 401(k) plans. The IRS recently announced that the 2022 contribution limit for 401(k) plans will increase to $20,500. The agency also announced cost‑of‑living adjustments that may...
Read MoreTax Changes: What's In, What's Out?
While it’s still too early to draw any final conclusions, Congress is getting closer to outlining what tax law changes are under consideration to pay for the proposed $1.75 trillion Build Back Better Plan.1For now, it appears...
Read MoreIn Case You Missed It the First Time.
Happy New Year!! We hope the new year is getting off to a great start for you. Tax season is once again upon us and I wanted to provide you with some helpful information on our website. Please take a moment to review. This information...
Read MoreWhat taxpayers need to know to claim the Earned Income Tax Credit
The earned income tax credit can give qualifying workers with low-to-moderate income a substantial financial boost. In 2019, the average amount of this credit was $2,476. It not only reduces the amount of tax someone owes but may give...
Read MoreMake 2020 Tax Filing a Breeze: 4 Organizational Tips
Maybe you’ve been filing your tax information away neatly in color-coded file folders all year. Or maybe you scanned and saved your receipts and other documents on your computer where you can find them in a second. If...
Read MoreSecond COVID Relief Package Passed
Stimulus checks could mail as early as next week Both houses of Congress voted to pass the latest COVID relief legislation and all indications are that the president will sign it into law. We know that more guidance will be provided...
Read MoreAll About IRS Payroll Tax Relief For Small Businesses Impacted by COVID-19
Small businesses can enjoy several types of payroll tax relief on their federal taxes during 2020. The changes include a payroll tax deferral and several refundable payroll tax credits. These changes are temporary and originate from...
Read MoreWill Biden Increase Your Taxes?
Biden dropped a high-level summary of his tax proposals a few weeks ago. We want to break them down for you. Top rate on ordinary income. Biden proposes increasing the current top tax rate of 37% to 39.6%. This will affect taxpayers...
Read MoreHow Much Money Will You Need for Retirement?
"Will I outlive my retirement money?" That's one of the top fears for people who are starting to prepare for their retirement years.So I have to chuckle a bit when I see headlines that say, "Here's how much money Americans think they...
Read More2020 RMD Income Tax Relief is possible
Are you one of the many retirement account holders who took a mandatory distribution this year? If so, you may be able to manage the taxes associated with Required Minimum Distributions (RMDs) from traditional IRAs and 401(k)s. There...
Read MoreLet's Talk About Extended Care
In your retirement strategy, you’ve likely put a good deal of thought into putting away enough money to enjoy your life, once you’ve put the daily grind in the rearview mirror. Like many, you’ve probably planned for...
Read MoreA Stock Market Lesson to Remember
A Stock Market Lesson to RememberConfidence can quickly erode, but it can also quickly emerge. Undeniably, spring 2020 has tried the patience of investors. An 11-year bull market ended. Key economic indicators went haywire. Household...
Read MoreFAQs about 2020 stimulus checks
Are you eligible for a stimulus check from the Treasury Department?As of Friday, April 24, the Internal Revenue Service said it had issued 88 million payments to individuals across the country. It plans to send out more than 150...
Read MoreHow to Roll Over an Old 401(k)
Back in the old days, it was pretty common for someone to work for the same company for 40 years before retiring with a nice pension and a gold watch. Well, those days are long gone. A recent study found that the youngest baby boomers...
Read MoreBusinesses Score Big Tax Benefits With The Cares Act
Article Highlights: Retroactive Net Operating Loss Carrybacks Retroactive 100% Bonus Deprecation for Leasehold, Restaurant and Retail Improvements Limitation on Losses Relaxed Limitation on Deductible Business Interest Relaxed As part...
Read MoreIt's Not Too Late to Make an IRA Contribution
If you haven't contributed funds to an Individual Retirement Account (IRA) for tax year 2019, or if you've put in less than the maximum allowed, you still have time to do so. You can contribute to either a traditional or Roth IRA until...
Read MoreImportant Tax Information (Please Read)
Happy New Year!! We hope the new year is getting off to a great start for you. Tax season is once again upon us and I wanted to provide you with some helpful information on our website. Please take a moment to review. This information...
Read MoreUnderstanding Tax Return Preparer Credentials and Qualifications
Any tax professional with an IRS Preparer Tax Identification Number (PTIN) is authorized to prepare federal tax returns. However, tax professionals have differing levels of skills, education and expertise. An important difference in...
Read MoreStarting a Home-Based Business
More than half of all businesses today are home-based. Every day, people are striking out and achieving economic and creative independence by turning their skills into dollars. Garages, basements, and attics are being transformed into...
Read MoreTax Breaks for Taxpayers Who Itemize
Many taxpayers opt for the standard deduction because it is easier, but sometimes itemizing your deductions is the better choice - often resulting in a lower tax bill. Whether you bought a house, refinanced your current home, or had...
Read MoreLast Minute Tax Changes - Extenders Have Been Extended Again
Tax Change – Extenders Have Been Extended Again There were a few tax issues included in the budget act that President Trump signed December 20, 2019. This email includes the items commonly known as “extenders”. The...
Read MoreFive Self-Care Tips For The New Year
With a new year around the corner, you’ll probably be taking some time to reflect, evaluate, and set some goals. One goal we recommend is focusing on self-care. Take the time to focus on Y-O-U because we’re here to tell...
Read MoreGetting to Know the Most Appealing Tax Benefits of Investing in Real Estate
Have you been searching for new and effective ways to create a passive income? While you may already know that real estate investing offers an array of benefits, did you know it’s an extremely popular side hustle for people from...
Read MoreTax Mistakes New Real Estate Investors Need to Avoid
Finding a way to put your hard-earned money to work is no easy process. There are a number of different investment opportunities on the market, which is why you need to do your homework before choosing one. One of the best ways to...
Read MoreDid You Just Get An IRS Notice of Deficiency? Here's What To Do Next
Nobody likes getting mail from the IRS — especially when it's something you weren't expecting.One minute, you're minding your own business and aren't even thinking about that return you filed months ago. The next minute you open...
Read MoreTAKE TAX ADVANTAGE OF A LOW-INCOME YEAR
People generally assume that tax planning only applies to individuals with the big bucks. But think again, as some tax moves benefit lower-income taxpayers and those who are having a lower-than-normal income year. So, if 2019 is not...
Read MoreNew Twist on the Social Security Number (SSN) Scam
New variations of tax-related scams show up at regular intervals, the most recent one related to Social Security numbers. Don't be fooled, however; it's nothing more than a new twist on an old scam and yet another attempt to frighten...
Read MoreYou can use your 2018 tax return to do a withholding checkup
Millions of people have filed their 2018 tax return, making this a prime time to consider whether their tax situation came out as expected. If not, you can use your finished 2018 return and the Tax Withholding Estimator to do a...
Read MoreYear-End Tax Planning Strategies for Businesses
A number of end-of-year tax planning strategies are available to business owners that can be used to reduce their tax liability. Here are a few of them: Deferring Income Businesses using the cash method of accounting can defer income...
Read More2019 Year-End Tax Planning for Individuals
With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies you can use to minimize your tax burden for 2019. General Tax planning Strategies General tax planning strategies for...
Read MorePassive Activity Loss Rules and Limitations
Landlords and buy and hold real estate investors are often faced with dealing with passive losses generated from their rental real estate activity. Though there are ways to get around the Passive Activity Loss regulations, this article...
Read MoreHow to Save Money With a New Real Estate Tax Strategy
Nobody likes paying taxes, but they are necessary to provide the services people expect from society. However, that doesn't mean people should be paying more than they're supposed to for taxes. Real estate investors often spend too...
Read MoreAvoid Estate Taxes with the Stepped Up Basis Rules
One of the huge benefits of real estate is that you can literally avoid taxes on the appreciation of your assets over time. If you hold your real estate assets until death, your heirs will receive a stepped-up basis equal to the...
Read MoreWhat is Currently Not Collectible Status from The IRS?
Big companies are known for getting all sorts of breaks, but when average people fall behind, they rarely receive help. When you owe back taxes, but can’t afford to pay them, then you may qualify for a special tax status known...
Read MoreIs It Better to Have a Tax Credit or a Deduction?
People often say that an expense is “a tax write-off”; most everyone interprets this to mean that the expense will have a tax benefit. Generally, such a benefit takes the form of either a deduction or a credit; these...
Read MoreUnderstanding Tax Terms: Health Savings Accounts (HSA)
If Benjamin Franklin were alive today, his famous quote “Nothing is certain, except death and taxes.” might include a third item — paying medical expenses. Medical expenses, in one form or another, are unavoidable....
Read More4 Mistakes That You Don't Want to Make When Filing Your Taxes. (They Could Land You In Tax Trouble)
It can be a stressful experience preparing your taxes and filing them. It can be even more stressful however, if you make these mistakes that land you into tax trouble. It's important to remember that if you make mistakes that are...
Read MoreIRS Expands ID Protection Program
Unless you experience identity theft, the IRS will not provide you with access to their Identity Protection PIN program ... until now. Read on to learn about the new voluntary participation in this identity theft enhancement. The IRS...
Read MoreFinancial Literacy & Personal Finance Basics
How do you get started budgeting? Simple: you plunge right in. You need to see exactly how you’re spending your money and identify where your financial holes are. Some steps: 1. Start tracking your monthly expenses. In a...
Read MoreSettling Tax Debt With an IRS Offer in Compromise
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles a taxpayer's tax liabilities for less than the full amount owed. That's the good news. The bad news is that not everyone is...
Read MoreTaxpayers should beware of property lien scam
With scam artists hard at work all year, taxpayers should watch for new versions of tax-related scams. One such scam involves fake property liens. It threatens taxpayers with a tax bill from a fictional government agency. Here are...
Read MoreDe-stress your workday!
We can all get caught up in the day…meetings, calls, texts, emails and the myriad of other workday demands that pile up quickly and can create unwanted stress.Take the time to review our tips for de-stressing your day....
Read MoreTax Resolution in Kansas City metro (or anywhere else!)
Tax Resolution What is Tax Resolution? Tax Resolution is the area of taxes where a credentialed tax specialist (like an Enrolled Agent) is able to represent you before the IRS to resolve your tax issues. Tax issues can be things such...
Read MoreSelf-employment Deductible Expenses
This is probably one of the more anticipated questions, especially around tax season. What can you deduct as a business expense? Most of it is pretty easy and straight forward. But first, a few quick notes. Keep records of everything...
Read MoreTwo education credits help taxpayers with college costs
With school back in session, parents and students should look into tax credits that can help with the cost of higher education. They do this by reducing the amount of tax someone owes on their tax return. If the credit reduces tax to...
Read MoreNew IRS impersonation email scam
The Internal Revenue Service and its Security Summit partners warned taxpayers and tax professionals about a new IRS impersonation scam campaign spreading nationally via email. Remember: the IRS does not send unsolicited emails and...
Read MoreHow can I Pay Less Tax?
If you are like many people here in America, the amount of taxes you pay can be your single largest expense. We get taxed at many different levels including sales tax, excise tax, property tax, payroll tax, estate tax, local taxes,...
Read MoreConsider the Tax BEFORE You Sell
In times of market volatility or when a financial need arises, it is only natural to consider selling some investments. Understanding the tax consequences is key to making an informed and planned decision. Here is what you need to...
Read MoreThe IRS Is Not Always Right
A letter in the mailbox with the IRS as the return address is sure to raise your blood pressure. Here are some tips for handling the situation if this happens to you: Stay calm. Try not to overreact to the correspondence. They are...
Read MoreUnfiled Tax Returns - Here are some things you should consider:
You missed the tax deadline April 15th, so now what? Although the IRS has received a record number of returns this year, there are still millions of people and business owners who did not file tax returns by April 15th. The reasons for...
Read MoreThe Seven Deadly Sins of Small Business Owners
This blog post is going to discuss the ways small business owners get in trouble with the IRS and how they can correct those mistakes. Deadly Sin #1: Commingling Personal and Business FundsMany small business owners are in the habit...
Read MoreHow To Protect Your Social Security Number
Very few things in life can create a higher degree of stress than having your Social Security Number (SSN) stolen. This is because, unlike other forms of ID, your SSN is virtually permanent. While most instances of SSN theft are...
Read MoreEffective Tax Planning Starts Now!
With summertime activities in full swing, tax planning is probably not on the top of your to-do list. But putting it off creates a problem at the end of the year when there’s little time for changes to take effect. If you take...
Read MoreI Owe Tax on That?
Wages and self-employment earnings are taxable, but what about the random cash or financial benefits you receive through other means? If something of value changes hands, you can bet the IRS considers a way to tax it. Here are five...
Read MoreMunicipal Bonds: An Investment with Tax Breaks!
Everybody likes getting something for free, and taxes are no different. Investing in securities like municipal bonds (munis) or municipal bond funds generates tax-free interest income. Here is what you need to know. Advantages of...
Read MoreNo Excuses. Time to Lower Your Tax Bill
It’s easy to push tax planning to the sidelines when tax laws are ever-changing and hard to understand. Here are some common (but often unfounded) reasons for avoiding tax situations, plus tips to help get past them and start...
Read MoreHow to Maximize Deductions for Assisted Living
It's possible that someone in your family will need assisted living care at some point in their life. This care can be at an assisted living facility, a nursing home, or in their own home. Often, assisted living care is expensive and...
Read MoreThe IRS Has Cryptocurrency on Its Radar
If you own cryptocurrency, you need to know that the IRS has owners of cryptocurrency in its sights because many cryptocurrency owners are not reporting or paying taxes on their cryptocurrency transactions. In fact, the IRS is so...
Read MoreYour Canceled Debt Could Be Taxable
Generally, debt that is forgiven or canceled by a lender is considered taxable income by the IRS and must be included as income on your tax return. When that debt is forgiven, negotiated down (when you pay less than you owe), or...
Read More401(k) and IRA Contribution Limit Changes
401(k) contribution limit increases to $19,000 for 2019; IRA limit increases to $6,000 The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is...
Read MoreHow to Write Off Worthless Stock
If you are like most investors, you occasionally will pick a loser that declines in value. Sometimes, a security can even become worthless when the issuing company goes out of business. Gains and losses for securities, including stock,...
Read MoreClergy Tax Service
Clergy Tax Service Just like every other profession, pastors, priests, ministers of the gospel and clergymen are mandated by federal and state tax laws to properly file and pay their clergy taxes to avoid going through a dreaded IRS or...
Read MoreWho Can Represent You Before the IRS?
Many people use a tax professional to prepare their taxes. Anyone who prepares, or assists in preparing, all or substantially all of a federal tax return for compensation is required to have a valid Preparer Tax Identification Number...
Read MoreTax Deductions for Teachers and Educators
Educators can take advantage of tax deductions for qualified out-of-pocket expenses related to their profession such as classroom supplies, training, and travel. As such, as the new school year begins, teachers, administrators, and...
Read MoreList of Preventive Care Benefits Expanded for HSAs
The list of medical care services for a range of chronic conditions allowed to be provided by a high deductible health plan (HDHP) was expanded effective July 17, 2019. These medical services and items are limited to the specific...
Read MoreHow to File Taxes After Saying 'I Do'
A taxpayer’s filing status for the year is based upon his or her marital status at the close of the tax year. Thus, if you get married on the last day of the tax year, you are treated as married for the entire year. The options...
Read MoreTwo New Tax Scams to Watch out For
Although the April filing deadline has come and gone, scam artists remain hard at work. As such, taxpayers should be on the lookout for scams that reference taxes or mention the IRS, especially during the summer and fall as tax bills...
Read MoreWill Your Tax Return be Audited
Few things are more unnerving than having your tax return selected for an IRS audit. The IRS uses that "audit anxiety" to help keep taxpayers honest on their tax returns. DIF Scores Count The IRS evaluates tax returns based on their...
Read MoreOffer in Compromise
An offer in compromise (OIC) is a unique settlement option where the IRS agrees to accept less than a taxpayer actually owes. For taxpayers that feel the assessed amount of their tax bill was unfair or for those who may never be able...
Read MoreYear-round tax planning includes reviewing eligibility for credits and deductions
Tax credits and deductions can mean more money in a taxpayer’s pocket. Most people only think about this when they file their tax return. However, thinking about it now can help make filing easier next year. This tip is one in a...
Read MoreMid-Year Tax Tips For 2019 Returns
For most taxpayers, the filing deadline has passed. But tax planning for next year can start now. The IRS reminds taxpayers that being organized and planning ahead can save time and money in 2019. Here are some things you can do now...
Read MoreTax Breaks for Higher Education
Over the years, Congress has continued to enhance tax breaks for students and their parents. These tax benefits provide taxpayers with a large number of options for tax-favored financing of their education and the education of their...
Read MoreWHAT ARE W4 ALLOWANCES?
You can’t avoid federal income taxes. No matter who you are or who you work for, taxes will be withheld from your paycheck—which can sometimes amount to a sizable chunk of your earnings. Fortunately, there’s the W4...
Read MoreFacing a Huge Gain from a Realty Sale?
If you are contemplating selling real estate property, there are a number of issues that could impact the taxes that you might owe, and there are steps you can take to minimize the gain, defer the gain, or spread it over a number of...
Read MoreWhat If You Want To File Your Taxes But Can't Afford To Pay Them?
It’s a common conundrum: You want to file your taxes on time, but you anticipate or already know that you will owe money you can’t afford to pay right now. As a result, you put off filing your tax return under the...
Read MoreYour family's financial story
How we are raised around financial matters can impact us for a lifetime. When a close friend or family member loses their home, or their job (or both), it can be frightening on several levels. You begin to wonder if the same could...
Read MoreTaxpayers should be on the lookout for new versions of these two scams
With scam artists hard at work all year, taxpayers should be on the lookout for a surge of evolving phishing emails and telephone scams. Taxpayers should watch for new versions of two tax-related scams. One involves Social Security...
Read MoreHobby or Business? It Makes a Difference for Taxes - Now More than Ever
Taxpayers are often confused by the differences in tax treatment between businesses that are entered into for profit and those that are not, commonly referred to as hobbies. Recent tax law changes have added to the confusion. The...
Read MoreWould a Mid-Year Tax Checkup Benefit You?
Article Highlights: Procrastination Can Lead to Unneeded Taxes & Penalties Events That Create Tax Problems & Opportunities Mid-Year Tax Checkup If you are inclined to procrastinate until the end of the year or, even worse, until...
Read MoreLooking Ahead to 2019 Taxes
You have your 2018 tax return filed, or perhaps on extension, and now it is time to look forward to the changes that will impact your 2019 return when you file it in 2020. Keeping up with the constantly changing tax laws can help you...
Read MoreThinking of Tapping Your Retirement Funds Early? What You Need To Know
OverviewSection 529 Plans (named after the section of the IRS Code that created them) are plans established to help families save and pay for college in a tax-advantaged way and are available to everyone, regardless of income. These...
Read MoreTax Debt Relief Services
Payment Plan / Installment Agreement: The IRS will almost always accept some type of payment arrangement for past due taxes. In order to qualify for a payment plan with the IRS you must meet the following rules and provide the IRS with...
Read MoreHow to Solve IRS Problems
IRS Problems Have a Way of Ruining All Aspects Of Your Life. They Take A Toll On You Financially, Physically, and Emotionally. You Can Never Really Forget About Them As They Always Come Back Each Morning When You Wake Up! My name is...
Read MoreIRA Frequently Asked Questions
Can I make a contribution to an IRA or Roth IRA? You must have earned income in order to make a contribution. The safe harbor definition of earned income is W-2 income. You can contribute the amount of your earned income or the...
Read MoreChoosing a Legal Entity for Your Business
If you've decided to start a business, one of the most important decisions you'll need to make is choosing a legal entity. It's a decision that impacts many things--from the amount of taxes you pay to how much paperwork you have to...
Read MoreWhen to Call a Tax Relief Service
A tax relief service is a tax firm that specializes in the area of tax problem resolution. Tax attorneys, CPAs or Enrolled Agents are the only designation that is necessary for proper representation before the IRS. If you are involved...
Read MoreGift Tax Treatment of Tuition Plans
Qualified tuition plans (QTPs) provide a means for family members and others to save for the future educational needs of children. Investment earnings within a QTP account are tax deferred and not taxable when withdrawn if used to pay...
Read MoreAll taxpayers should check their withholding ASAP
All taxpayers should check their withholding – also known as doing a Paycheck Checkup – as soon as possible. They should do a checkup even if they did one last year. By checking their withholding, taxpayers can make sure...
Read MoreUnderstanding Tax-Deferred Investing
When you are attempting to save money for your children’s future education or your retirement, you may do so in a number of ways, including investing in the stock market, buying real estate for income and appreciation, or simply...
Read MoreTaxpayers have the right to pay no more than what they owe
The IRS is committed to ensuring taxpayers pay no more than the correct amount of tax owed. Taxpayers have the right to pay only the amount of tax legally due, including interest and penalties, and to have the IRS apply all tax...
Read MoreTaxpayers should include tax plans in their wedding plans
Couples getting married this year know there are a lot of details in planning a wedding. Along with the cake and gift registry, their first tax return as a married couple should be on their checklist. The IRS has tips and tools to help...
Read MoreEldercare Can Be a Medical Deduction
Article Highlights: Nursing Homes Meals and Lodging Home Care Nursing Services Caregiver Agencies Household Employees Because people are living longer now than ever before, many individuals are serving as care providers for loved ones...
Read MoreMUST READ Before Hiring any Tax Negotiation Firm - BUYER BEWARE
Customer... Beware!How To Keep From Getting Ripped Off? Many “Tax Negotiation” companies out there will absolutely rip you off. These unscrupulous firms will take your money regardless of whether they can help you or not....
Read MoreWhat to Do If You Receive a Dreaded IRS Letter
Article Highlights: IRS Notices CP Series Notice Automated Notices Frequent Errors ID Theft What You Should Do What We Will Do Now that most tax refunds are deposited directly into taxpayers’ bank accounts, the dream of opening...
Read MoreWhy Tax Basis Is So Important
For tax purposes, the term “basis” refers to the original monetary value that is used to measure a gain or loss. For instance, if you purchase shares of a stock for $1,000, your basis in that stock is $1,000; if you then...
Read MoreTax Issues Related to Divorce
Divorce is a traumatic event in anyone’s life, and the tax aspects are frequently overlooked, which can add to the distress. The following is an overview of many of the commonly encountered tax issues associated with divorce....
Read MoreTop 10 Startup Business Questions Every Entrepreneur Should Answer
Starting a small business can be one of the most exciting and rewarding events in someone’s life. But it can also be extremely stressful. If you’re thinking about becoming an entrepreneur, you might have more questions...
Read MoreDefer Gains with Qualified Opportunity Funds
If you have a large capital gain from the sale of a stock, asset, or business and would like to defer that gain with the possibility of excluding some of it from taxation, you may want to check out the new investment vehicle created by...
Read MoreForget Something on Your 2018 Return?
If you forgot to include necessary information on your 2018 return, you are not alone. In addition, you may have received a revised 1099 or K-1 since filing your return. The IRS has struggled to deal with the enormity of the changes in...
Read MoreSchool's Out - Who Is Going to Take Care of the Kids?
Article Highlights: Child Age Limits Employment-Related Expense Married Taxpayer Earnings Limits Disabled or Full-Time-Student Spouse Expense Limits Summer has just arrived, and there is a tax break that working parents should know...
Read MoreSettling Back Tax Debt using an IRS Offer in Compromise
Nothing on this earth is scarier than owing money to the Federal Government. This is because of the fact that the IRS will stop at nothing to collect the taxes that are owed. They are the largest and most powerful collection agency in...
Read MoreWhat is an IRS Penalty Abatement and Am I Eligible for One?
There are different types of IRS penalties that can be assessed against you. The most common penalties include those for failing to file a tax return, filing your return late, or accuracy-related penalties if you didn’t correctly...
Read MoreTax-Advantaged College Savings
OverviewSection 529 Plans (named after the section of the IRS Code that created them) are plans established to help families save and pay for college in a tax-advantaged way and are available to everyone, regardless of income. These...
Read MoreWhat the IRS Never Told You
Learn how to end your IRS Problems. Many taxpayers are at the end of their rope with no place to turn for solutions to ALL types of IRS Problems. You and your family can put these IRS Problems behind you, often for just a few bucks. So...
Read MoreTax Tips for IRA Owners
There are both opportunities and pitfalls for IRA owners, and while you definitely don’t want to get caught up in a pitfall, you may want to take advantage of the opportunities. IRAs come in two varieties: the traditional and the...
Read MoreRead This before Tossing Old Tax Records!
If you are a neat-nick and your tax return for last year has been completed and filed, you are probably thinking about getting rid of the tax records related to that return. On the other hand, if you are afraid to dump old records, you...
Read MoreAnother tax headache ahead: IRS is changing paycheck withholdings and it'll be a doozy
You finally finished your taxes and are learning – for better or worse – the ins and outs of the new law. But wait, the law isn’t done with you. There’s another complication coming out later this year: The...
Read MoreIt's Not Too Late to Make a 2018 Retirement-Plan Contribution
Have you been ignoring your future retirement needs? This tends to happen when people are young; because retirement is far in the future, they believe that they have plenty of time to save for it. Some people even ignore the issue...
Read MoreTax Time Is Around the Corner! Are You Ready?
Article Highlights: Time to gather your information for your tax appointment New for 2018 Choosing your alternatives Tips for pulling your information together Tax time is just around the corner, and if you are like most taxpayers, you...
Read MoreTips to Fund your Retirement Account
New 2019 contribution limits create retirement saving opportunity For the first time in six years, limits for IRAs are rising. 401(k) accounts and IRAs will see an increase of $500 in contribution maximums for 2019. Check out the table...
Read MoreFollow these tips to protect data when shopping online
The IRS reminds holiday shoppers to protect their tax and financial data from identity thieves. All it takes is a few extra steps to prevent cybercriminals from stealing sensitive data, such as financial account information, Social...
Read MoreYear-end Tax Planning Letter
With year-end approaching, now is the time to take steps to cut your 2018 tax bill. Here are some relatively foolproof year-end tax planning strategies to consider, taking into account changes included in the Tax Cuts and Jobs Act...
Read MoreVeterans Owed Refunds for Overpayments Attributable to Disability Severance
The IRS is advising certain veterans who received disability severance payments after January 17, 1991, and included that payment as income that they should file Form 1040X, Amended U.S. Individual Income Tax Return, to claim a credit...
Read MoreFIVE TAX DEDUCTIONS THAT DISAPPEARED IN 2018
Under tax reform, taxpayers who itemize should be aware that deductions they may have previously counted on to reduce their taxable income have disappeared in 2018. 1. Moving Expenses Prior to tax reform (i.e., for tax years starting...
Read MoreImportant Tax Changes for 2018
As the New Year rolls around, it's always a sure bet that there will be changes to current tax law and 2018 is no different now that many of the tax provisions pursuant to the Tax Cuts and Jobs Act of 2017 (TCJA) are in full effect....
Read MoreAdvantages Of An Enrolled Agent Preparing Tax Returns
Engaging an ENROLLED AGENT is the start of a professional relationship that includes more than preparing a tax return. It is acquiring a “partner” in your quest for financial security and someone that can be called with...
Read More"Age 55 Rule" For Taking Money Out of a Company Retirement Plan
If you participate in a company retirement plan, such as a 401(k), there's a way you can take a distribution and get out of paying the 10% early distribution penalty if you're under age 59 ½ at the time of the withdrawal. The...
Read MoreTraditional IRAs vs. Roth IRAs
Two types of IRAs are available to fund your retirement: Traditional IRAs and Roth IRAs. While both are subject to many of the same rules there are several important differences. It's important to understand these differences because...
Read MoreWill You Really Be Able to Work Longer?
You may assume you will. That assumption could be a retirement planning risk. How long do you think you will work? Are you one of those baby boomers (or Gen Xers) who believes he or she can work past 65? Some pre-retirees are basing...
Read MoreWhat Is A ROTH 401(k)?
While many people are familiar with the benefits of traditional 401(k) plans, others are not as acquainted with Roth 401(k)s. Since January 1, 2006, employers have been allowed to offer workers access to Roth 401(k) plans.¹ And...
Read MoreCan You Really Afford to Navigate Your Own Financial Journey?
Imagine taking a 10 day cruise to the Caribbean on a luxury liner without any radar, communication devices, GPS systems or human Navigators on board. Do you really think you will reach your vacation destination safely and on time?...
Read MoreA Budget is not…
A budget is not a random set of numbers written down on paper or typed in a spreadsheet. A budget is not how much you have left in your checkbook that will get you to the next payday. A budget is not guessing how much you think you...
Read MoreWhat’s Your Plan?
Have you ever asked someone what their plan is? Most people will deliver an elaborate plan that will describe their life goals, education goals, professional goals, travel goals and retirement goals. They will talk about what they want...
Read MoreWhat’s Your Retirement Number?
Most people I talk to hope to retire some day. Almost everyone of them gives me an age at which they would like to retire at, but rarely tell me how much they will need in retirement dollars when they retire. Your ability to retire...
Read MoreTaking Taxes Into Account When Saving & Investing
How many of us save and invest with an eye on tax implications? Not that many of us, according to a recent survey from Russell Investments (the global asset manager overseeing the Russell 2000). In the opening quarter of 2014, Russell...
Read MoreTop Considerations for Reducing Taxes on Your Retirement Income
Without taking the right mitigation steps, up to 1/3 of your retirement income could end up consumed by tax payments. Luckily, you can take the time to adjust your approach and make sure your hard earned and saved retirement funds...
Read MoreHow Much Will You Spend When You Retire?
Will you have enough money to make ends meet? You may have heard that people spend less once they are retired. Statistically, that is true. The question is whether a retiree has enough income to meet his or her expenses. Ideally,...
Read MoreMaking & Keeping Financial New Year’s Resolutions
What could you do (or do differently) in the months ahead? How will your money habits change in 2017? What decisions or behaviors might help your personal finances, your retirement prospects, or your net worth? Each year presents a...
Read MoreBuilding an Emergency Fund
We all would love to have a little extra cash on hand for emergencies. Saving up that cash can be a challenge – but with a little effort, that challenge can be met. Imagine a 30-year-old couple with no real savings. Let’s...
Read MoreTips for Taxpayers About Charity Travel Expenses
Do you plan to donate your time to charity this year? If travel is part of your charitable giving, for example, driving your personal auto to collect donations from local business, you may be able to these travel expenses on your tax...
Read MoreSix Overlooked Tax Breaks for Individuals
Confused about which credits and deductions you can claim on your 2016 tax return? You're not alone. Here are six tax breaks that you won't want to overlook. 1. State Sales and Income Taxes Thanks to last-minute tax extender...
Read More2016 Year-End Tax Planning for Individuals
As 2016 draws to a close, there is still time to reduce your 2016 tax bill and plan ahead for 2017. This letter highlights several potential tax-saving opportunities for you to consider. I would be happy to meet with you to discuss...
Read More2016 Year-End Tax Planning for Businesses
As 2016 draws to a close, there is still time to reduce your 2016 tax bill and plan ahead for 2017. This letter highlights several potential tax-saving opportunities for business owners to consider. We can arrange to meet to discuss...
Read MoreChoosing the Right Business Entity
When you decide to start a business, one of the most important decisions you'll need to make is choosing the right business entity. It's a decision that impacts many things--from the amount of taxes you pay to how much paperwork you...
Read MoreReminder for Parents and Students: Check Out College Tax Credits for 2016 and Years Ahead
With another school year now in full swing, the Internal Revenue Service today reminded parents and students that now is a good time to see if they qualify for either of two college tax credits or other education-related tax benefits...
Read MoreTo Maintain Eligibility for Advance Payments of the Premium Tax Credit, File ASAP
The IRS is sending letters to taxpayers who received advance payments of the premium tax credit in 2015, but who have not yet filed their tax return. You must file a tax return to reconcile any advance credit payments you received in...
Read MorePenalties of Having Back Taxes
Back taxes are not an issue that anyone wants to deal with. They can cause a lot of issues with your credit and how much you are able to do with your life. It is best to make full payments on your taxes as soon as you find out that you...
Read MoreFive Tax Tips for Gambling Income and Losses
Report any gambling winnings as income on your tax return. Be sure you itemize to deduct gambling losses up to the amount of your winnings. If you are a casual gambler, these tax tips can help: Gambling income. Income from gambling...
Read MoreThinking of Donating a Car to Charity?
The IRS reminds taxpayers that specific rules apply for taking a tax deduction for donating cars to charities. If the claimed value of the donated motor vehicle, boat or plane exceeds $500, you can deduct the smaller of the vehicle's...
Read MoreTax Effects of Divorce or Separation
If you are divorcing or recently divorced, taxes may be the last thing on your mind. However, these events can have a big impact on your wallet. Alimony and a name or address change are just a few items you may need to consider. Here...
Read MoreLooking for Work May Impact Your Taxes
If you are looking for a job in the same line of work, you may be able to deduct some of your job search costs. Here are some key tax facts you should know about when searching for a new job: Same Occupation. Your expenses must be for...
Read MoreMoving Expenses Can Be Deductible
Did you move due to a change in your job or business location? If so, you may be able to deduct your moving expenses, except for meals. Here are the top tax tips for moving expenses. In order to deduct moving expenses, your move must...
Read MoreFive Tips for Starting a Business
Understanding your tax obligation is one key to business success. When you start a business, you need to know about income taxes, payroll taxes and much more. Here are five IRS tax tips that can help you get your business off to a good...
Read MoreHow Identity Theft Can Affect Your Taxes
Tax-related identity theft normally occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund. Many people first find out about it when they do their taxes. The IRS is working hard to...
Read MoreBack to School? Learn about Tax Credits for Education
If you pay for college in 2016, you may receive some tax savings on your federal tax return, even if you’re studying outside of the U.S. Both the American Opportunity Tax Credit and the Lifetime Learning Credit may reduce the...
Read MoreHow Selling Your Home Can Impact Your Taxes
Usually, profits you earn are taxable. However, if you sell your home, you may not have to pay taxes on the money you gain. Here are ten tips to keep in mind if you sell your home this year. Exclusion of Gain. You may be able to...
Read MoreMinimizing Tax On Mutual Fund Activities
Whether you're new to mutual funds or a seasoned investor who wants to learn more, these tips will help you avoid the tax bite on mutual fund investments. First, you need to understand how distributions from mutual funds are taxed. Tax...
Read MoreCan the Teachers’ Classroom Supplies Deduction Exceed $250?
Congress, recognizing that most classroom teachers spend a significant amount of their own money on classroom supplies, granted them a special deduction of $250 (indexed for inflation after 2015) as an adjustment to gross income...
Read MoreQualified Charitable Distributions from IRAs
If you're age 70 1/2 or older, you can now take advantage of recent legislation allowing you to avoid paying income tax on IRA withdrawals transferred directly to a qualified charitable organization. Referred to as Qualified Charitable...
Read MoreStill Time to Make Your IRA Contribution for the 2015 Tax Year
Did you contribute to an Individual Retirement Arrangement last year? Are you thinking about contributing to your IRA now? If so, you may have questions about IRAs and your taxes. Here are some IRS tax tips about saving for retirement...
Read MoreRoth IRAs: The Basics
A Roth IRA is an individual retirement plan that with certain exceptions, is similar to a traditional IRA and subject to the rules that apply to a traditional IRA. For example, to be considered a Roth IRA, the account or annuity must...
Read MoreSix Tips about Individual Shared Responsibility Payments
For any month during the year that you or any of your family members don’t have minimum essential coverage and don’t qualify for a coverage exemption, you are required to make an individual shared responsibility payment...
Read MoreSix Tips on Whether to File a 2015 Tax Return
Most people file a tax return because they have to, but even if you don’t, there are times when you should. You may be eligible for a tax refund and not know it. Here are six tips to help you find out if you should file a tax return:...
Read MoreMissing Your Form W-2?
You should receive a Form W-2, Wage and Tax Statement, from each of your employers for use in preparing your federal tax return. Employers must furnish this record of 2015 earnings and withheld taxes no later than February 1, 2016 (if...
Read MoreWho Can Represent You Before the IRS?
Many people use a tax professional to prepare their taxes. Tax professionals with an IRS Preparer Tax Identification Number (PTIN) can prepare a return for a fee. If you choose a tax pro, you should know who can represent you before...
Read MoreChoose Your Tax Preparer Wisely
If someone helps you do your taxes, you're not alone. The IRS asks you to choose your tax return preparer wisely – for good reason. You are responsible for the information on your income tax return. That’s true no matter who prepares...
Read MoreHow to build an emergency fund
Planning for emergencies is like buying insurance: you pay into an account, and hope you'll never have to use it. But life happens. Cars break down. Roofs leak. Kids break arms. Having money in the bank to cover those unexpected...
Read More10 Tax Breaks Reauthorized for Tax Year 2015
Congress finally took action in late December and passed a tax extender bill formally known as the Protecting Americans from Tax Hikes Act of 2015 (PATH), which was then signed into law. Retroactive to January 1, 2015, many tax...
Read MoreTax Changes for 2016: A Checklist
Welcome, 2016! As the New Year rolls around, it's always a sure bet that there will be changes to current tax law and 2016 is no different. From health savings accounts to retirement contributions and standard deductions, here's a...
Read MoreKeep debt from spiraling out of control
Is your debt load straining as the traditional season of giving stretches on? Some kinds of debt are considered "good," such as the mortgage on your home. Other kinds – not so much. Here are suggestions for managing your debt. Stop...
Read MoreWhat's New: You can now request an identity-theft tax return
In the past, if you were a victim of identity theft, the IRS would not send you a copy of the fraudulent tax return due to federal privacy laws. Now, under a recent change of policy, you can request certain redacted individual income...
Read MoreTake advantage of last-minute tax savers
Year-end 2015 is approaching fast! You have only a very limited time to make tax-smart moves for 2015. Here are seven suggestions. If you believe you will owe state or local taxes, consider prepaying them before December 31 so you can...
Read MoreNew Business: Help your employees prepare for retirement
Is your retirement plan keeping up with the times? A recent survey of retirement plan sponsors pointed out trends in the way employers are changing 401(k) and other plans to help employees prepare for retirement. For example, companies...
Read MoreIRS Tax Tips for Deducting Gifts to Charity
The holiday season often prompts people to give money or property to charity. If you plan to give and want to claim a tax deduction, there are a few tips you should know before you give. For instance, you must itemize your deductions....
Read MoreTop Year-End IRA Reminders from IRS
Individual Retirement Accounts, or IRAs, are important vehicles for you to save for retirement. If you have an IRA or plan to start one soon, there are a few key year-end rules that you should know. Here are the top year-end IRA...
Read MoreTime to Check Your Withholdings
Income tax is often withheld from wages and other types of income such as pensions, bonuses, commissions and gambling winnings. Ideally, taxpayers should try to match their withholding with their actual tax liability. If not enough tax...
Read MoreYear-End Tax Planning for Businesses
While the fate of several business-related tax extenders such as Research & Development tax credits, bonus depreciation, and Section 179 expensing that expired at the end of 2014 is uncertain, there are still a number of end of year...
Read MoreYear-End Tax Planning for Individuals
Tax planning for the year ahead presents similar challenges to last year due to the unknown fate of the numerous tax extenders that expired at the end of 2014. These tax extenders, which include the mortgage insurance premium deduction...
Read MoreKeep Track of Miscellaneous Tax Deductions
Miscellaneous deductions such as certain work-related expenses you paid for as an employee can reduce your tax bill, but you must itemize deductions when you file to claim these costs. If you usually claim the standard deduction, think...
Read MoreEarly Retirement Plan Withdrawals and Your Taxes
Taking money out early from your retirement plan may trigger an additional tax. Here are six things that you should know about early withdrawals from retirement plans:1. An early withdrawal normally means taking money from your plan...
Read MoreRECORDKEEPING FOR CHARITABLE CONTRIBUTIONS
You must keep records to prove the amount of any cash and non-cash contributions you make during the year. Which records you must keep depends on the amount you contribute and whether they are cash or property contributions. New...
Read MoreLeaving a Business: Which Exit Plan Is Best
Selecting your business successor is a fundamental objective of planning an exit strategy and requires a careful assessment of what you want from the sale of your business and who can best give it to you.There are four ways to leave...
Read MoreDefer Capital Gains Using Like-Kind Exchange
If you're a savvy investor, you probably know that you must generally report as income any mutual fund distributions whether you reinvest them or exchange shares in one fund for shares of another. In other words, you must report and...
Read MoreAutomatic enrollment can benefit you
Your employer's retirement plan may have an automatic enrollment feature that has you participating as soon as you're eligible, unless you opt out. Generally, you'll want to stay in the plan because contributing makes tax sense. Two...
Read MoreNew Business: Double-check your health care reimbursements
Penalty relief for failing to bring your existing employer health care payment plans into compliance with the Affordable Care Act expired on June 30. If you're still directly reimbursing your employees for health insurance premiums on...
Read MoreAvoid these retirement planning mistakes
Retirement can creep up on you. One day you're climbing the corporate ladder or building a client base for your business. Next thing you know, you're in your 50s or 60s. Thoughts of spending your days playing golf, pursuing a favorite...
Read MoreWhat's New: When will you retire?
According to research conducted this spring, U.S. workers expect to stay employed past age 65 and to transition into retirement by reducing hours on the job over time.Whatever your expectations for your post-work life, planning now can...
Read MoreFourth quarter tax planning – It's how you finish that counts
The fourth quarter is often make-or-break time in sports. Likewise, tax-cutting steps you take in the last three months of the year can transform a financial plan into a bona fide winner.Late-year tax planning is often a matter of...
Read MoreRetirement Contributions Limits Announced for 2015
The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2015.In general, many of the pension plan limitations will change for 2015...
Read MoreIRS Clarifies One-Per-Year Limit on IRA Rollovers
The Internal Revenue Service recently issued guidance clarifying the impact a 2014 individual retirement arrangement (IRA) rollover has on the one-per-year limit imposed by the Internal Revenue Code on tax-free rollovers between IRAs...
Read MoreNew Business: December tax moves to consider for your business
2014 is winding down, but you still have time to wrap up business tax strategies before December 31. Here are five to put on your list.Make capital contributions if necessary. When you have losses in your Subchapter S corporation, the...
Read MoreKnow which dependents will cut your tax bill
For any number of reasons, you could find yourself opening your home to relatives in need. In some cases, the guests could become fairly permanent occupants.Who can be claimed as a dependent at tax filing time? Suppose that your nephew...
Read MoreYear-End Tax Planning for Your Securities
This year has been a bumpy ride on Wall Street, with dramatic swings up and down. Now is a good time to review your retirement account and your personal portfolio. While changes you make in your retirement account won’t impact current...
Read MoreYear-End Tax Planning for Individuals
Once again, tax planning for the year ahead presents more challenges than usual, this time due to the numerous tax extenders that expired at the end of 2013.These tax extenders, which include nonbusiness energy credits and the sales...
Read MoreEver Wonder What a Tax Deduction Might Save You?
Taxpayers frequently ask what benefit is derived from a tax deduction.Unfortunately, there is no straightforward answer. The reason the benefit cannot be determined simply is because some deductions are above-the-line, others must be...
Read MoreWhich Moving Expenses are Deductible?
If you moved due to a change in your job or business location or because you started a new job or business, you may be able to deduct your reasonable moving expenses.Additionally, if you meet the requirements of the tax law for the...
Read MoreIRS Grants Tax Relief to Drought-Stricken Farmers and Ranchers in 30 States
If you’re a farmer or rancher and drought forced you to sell your livestock,special IRS tax relief may help you.The IRS has extended the time to replace livestock that farmers were forcedto sell due to drought. If you’re eligible, this...
Read MoreTax Breaks for Grandparents
The tax law does not contain any tax rules specifically for grandparents. However, there are a number of breaks that grandparents can avail themselves of to reduce their tax bills while helping their families.Gifts to family...
Read MoreChild Care Credit Available to Student-Parents
If your family is among the many families that incur child care expenses so that a parent can attend school, you may be eligible for a child care tax credit. Generally, the child care credit is only available to couples where both...
Read MoreFive Basic Tax Tips for New Businesses
If you start a business, one key to success is to know about your federal tax obligations. You may need to know not only about income taxes but also about payroll taxes. Here are five basic tax tips that can help get your business off...
Read MoreTax Tips for Recently Married Taxpayers
This is the time of year for many couples to tie the knot. If you marry during 2014, here are some post-marriage tips to help you avoid stress at tax time.Notify the Social Security Administration − Report any name change to the Social...
Read MoreHow to prevent embezzlement at your company
When an employee is caught embezzling funds at a giant multinational corporation, news outlets are eager to broadcast the story from coast to coast. Yet small businesses are victimized by employee theft every day. When a worker...
Read MoreMid-Year Tax Planning Checklist
All too often, taxpayers wait until after the close of the tax year to worry about their taxes and miss opportunities that could reduce their tax liability or financially assist them. Mid-year is the perfect time for tax planning. The...
Read MoreHave You Reviewed Your Will or Trust Lately?
Your will or trust was prepared so that your assets will be distributed according to your wishes after your death. These documents can also reduce estate taxes. However, certain events can cause these documents to become outdated and...
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