by admin | May 3, 2024 | Planning
Three of every four Americans got a refund check last year according to IRS statistics. With a little planning, you can maximize the benefit of your refund. Here are some ideas: Pay off debt. If you have debt, a great spending priority can be to reduce or eliminate...
by admin | Apr 26, 2024 | The Audit
Using the IRS Audit Technique Guidelines (ATGs) While most of us are never audited, when it happens we can often feel overwhelmed. Remember that the IRS auditor performs these audits every day. They know what to look for, and may ask leading questions that are easy to...
by admin | Apr 19, 2024 | Retirement
Wouldn’t it be nice to check out of the workforce early and not need to worry about having enough money for retirement? While good financial planning can help you get there, leveraging the tax code as part of your retirement plan is also a good idea. Here are some tax...
by admin | Apr 12, 2024 | Miscellaneous
Now is the time to pay your taxes AND make your estimated tax payment. Both your individual tax return AND first quarter estimated tax payment are due. Here is what you need to know. First quarter due date: Monday, April 15, 2024 The estimated tax payment rule You are...
by admin | Apr 5, 2024 | What's New
Here is what to know Beginning In April a number of IRS notices began hitting mailboxes. Unfortunately, the notices are coming in cold, as the IRS is turning on mailing their notices after a long time of being turned off. Their process is creating a lot of undue...
by admin | Mar 29, 2024 | Planning
The large gain exclusion creates a tax risk One of the more popular provisions in the tax code is the $250,000 capital gain exclusion ($500,000 for a married couple) of any profit made when selling your home. As long as you follow the rules, most home sales...
by admin | Mar 22, 2024 | Miscellaneous
What you should know If you e-file your tax return, you can generally expect to receive your refund within three weeks of it being accepted by the IRS. Expect four or more weeks if you mail in your tax return. But delays can happen. Refund Delays: The common culprits...
by admin | Mar 15, 2024 | The Audit
No one likes the stress involved when your tax return is under the audit spotlight. Here are some ideas to avoid some of the more common audit triggers. Report everything that has an informational tax return. If you are like most Americans, you will receive numerous...
by admin | Mar 8, 2024 | Deductions
New tax rules are creating confusion Because of many home-related tax changes over the years, it can easily confuse taxpayers on what, when and how much can be used to qualify for a home mortgage related deduction. So when your mortgage company reports tax-related...
by admin | Mar 1, 2024 | Miscellaneous
March 15th is quickly approaching 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, missing the due date could cost you a hefty penalty. The penalty The...
