What are the Hope credit and the Lifetime Learning credit?
Are you going to start paying higher education costs? You might qualify for a tax credit. Find out in this week’s Tax Tip.
Disappointed in Your Tax Refund?
If your tax refund is less than you anticipated, you are not alone. We explained what probably happened in this week’s Tax Tip.
Increased Business-Vehicle Deductions Due to Tax Reform
Tax reform has brought about significant changes in the way that vehicle use is deducted for business purposes. Read more in this week’s Business Tip.
Federal Income Tax Returns Due for Most Individuals
The federal income tax filing deadline for most individuals is Monday, April 15, 2019. We go over highlights in this week’s Tax Tip.
Business Owners & Landlords: Are You Collecting the Needed W-9s?
If you use independent contractors for your business or rental, for each individual whom you pay $600 or more for the year, you are required to issue a Form 1099-MISC to avoid losing the deduction for their labor and expenses. We explain in this week’s Business Tip.
What do I do if I Can’t Pay My Tax Bill?
You thought you were getting a refund and SURPRISE…You Owe! If you owe the IRS, but can’t pay the bill, we explain your options in this Question of the Week.
A Government Shutdown Isn’t Going to Save You From an IRS Audit
The government shutdown earlier this year doesn’t mean your chances of getting audited are lower. Read this week’s Tax Tip to learn about some common IRS audit red flags.
What records do I need to file my taxes?
Whether you are filing taxes on your own or hiring a tax preparer, you’ll want to make sure you have all of your information organized to make the process of filing your taxes easier. We explain in this Question of the Week.
Tax Reform Has Substantially Altered the Tax Benefits of Home Ownership
As part of the recent tax reform, the Tax Cuts and Jobs Act of 2017, the deduction for home mortgage interest and property taxes has undergone substantial alterations. These changes will impact most homeowners who itemize their deductions each year. We explain in this week’s Tax Tip.
Unforced Errors: The 8 Most Common IRS Tax Penalties and How to Avoid Them in 2019
To ensure that you get through tax season without unnecessary costs and aggravation, read this week’s Tax Tip for a list of penalties the IRS most frequently assesses against taxpayers.