by admin | Sep 18, 2026 | Retirement
Don’t forget to look at the retirement specials on the tax menu Wouldn’t it be nice to check out of the workforce early and not have to worry about having enough for retirement? While good financial planning can help you get there, leveraging the tax code as...
by admin | Sep 11, 2026 | The Audit
If you don’t receive a W-2 or 1099, is this a defense to protect yourself from not reporting the income during an audit? In short, the answer is no. And new this year, you will only receive a 1099-NEC if your payments received from a customer or client total $2,000 or...
by admin | Sep 4, 2026 | Planning
Now is the time to make your estimated tax payment If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. 3rd Quarter Due Date: Tuesday, Sept. 15, 2026 You are required to withhold...
by admin | Aug 28, 2026 | Deductions
Donation basics to ensure a proper tax deduction Donating to charity not only helps others, it can reduce your tax bill — but only if the charity qualifies as a tax-exempt organization. Checking for qualified status If you plan on itemizing your deductions on your tax...
by admin | Aug 21, 2026 | Your Income
Your grandson needs a car, but cannot afford the payments. As a favor, you provide the $25,000 to purchase the car. You tell your grandson to pay you back when he can, but there is no loan document. The IRS sees this payment during an audit and asks you where your...
by admin | Jul 17, 2026 | Planning
Information is key when using this tax planning strategy You own some stock that has increased in value. To avoid a possible taxable gain by selling the stock, you wish to give it directly to a child or grandchild. This simple idea has some interesting tax...
by admin | Jul 10, 2026 | Miscellaneous
What everyone should know Small business owners have a number of options on how to organize their business for tax purposes. And if you sell items on eBay or Esty, drive for Uber, or offer your services as a writer or programmer, you are probably considered a...
by admin | Jul 3, 2026 | The Audit
Your guide to post tax-filing record retention Tax season is over and your focus is on enjoying the summer. But before you close that tax file, make a final review to ensure you records are accessible should you ever need them. This is especially important. If the IRS...
by admin | Jun 26, 2026 | The Audit
Is it always a good idea to amend your tax return if you find an error? Here’s a tip that is worth reviewing each year as adjustments to your income tax return may become apparent. This is often common with the advent of changing tax rules and as the IRS...
by admin | Jun 12, 2026 | Retirement
Plus: Trump Account ALERT! Although you won’t become eligible for Social Security until your 60s, there’s a lot you can do to prepare before then. Here’s a rundown of steps you can take during each decade of your life: In your 20s: If you’re like a lot of people,...
