by admin | Feb 27, 2026 | Retirement
Want money when you retire? Here are some tips. Here are five common retirement planning tips and what you can do to take advantage of them. The key is retirement planning starts today, not decades from now when you are reaching retirement age. 1. Having a plan...
by admin | Feb 20, 2026 | Deductions
There are many tax benefits built into home ownership. Here’s a summary of the most common. It may be worth a quick review to ensure you are maximizing your home ownership tax benefits. Common deductions Interest deductibility. Mortgage interest is one of the...
by admin | Feb 13, 2026 | Your Income
Most income you receive is taxable income that is reported to the federal and state tax authorities. However, renting out your home or vacation property on a short-term basis can be done tax-free if you follow the rules. The rule: If you receive rental income for less...
by admin | Feb 6, 2026 | Miscellaneous
Late filing of S corporation and partnership returns can be costly The IRS is penalizing late filers of S corporation and partnership tax returns. This despite the fact that late filing of the tax returns (Forms 1120S and 1065), due March 15th, often does not impact...
by admin | Jan 30, 2026 | The Audit
What you need to know If you have problems getting to sleep at night and you turn to the IRS tax code for help, you might find some vocabulary that is very foreign to words you use every day. One of the more common words used by the IRS is the term contemporaneous. So...
by admin | Jan 23, 2026 | Retirement
A penalty to avoid with these tips It’s one thing to be taxed on retirement contributions and their related earnings when you withdraw funds from your IRA or 401(k) during retirement. It’s quite another when you pay the tax PLUS a 10% penalty for an early...
by admin | Jan 16, 2026 | What's New
New mileage rates announced by the IRS Mileage rates for travel are now set for 2026. The standard business mileage rate increases by 2.5 cents to 72.5 cents per mile. The medical and moving mileage rates go down 1/2 cent to 20.5 cents per mile. Charitable mileage...
by admin | Jan 2, 2026 | Miscellaneous
Creating order out of chaos As important tax records start filling mailboxes, how can you make sure your tax preparation goes smoothly and efficiently this year? Here are some tips. Keep it all in one place. It seems obvious, but how often have you found yourself...
by admin | Dec 26, 2025 | Miscellaneous
Tips to protect your tax information Hackers and data thieves target personally identifiable information or (PII). They also know their best score can be had by filing information using your tax ID and stealing your withholdings before you are the wiser. But by...
by admin | Dec 19, 2025 | Planning
As part of your planning for next year, now is the time to review funding your retirement accounts in 2026. Recent cost of living calculations means much higher contribution limits for next year. So plan now to take full advantage of this tax benefit. Here are annual...
