Feb 8, 2024 | Taxes
Yes! You Owe Tax on That 6 Surprising Taxable Items If something of value changes hands, you can bet the IRS considers a way to tax it. Here are six taxable items that might surprise you: Surprise #1: Hidden treasure – In 1964, a married couple discovered $4,467...
Jan 31, 2024 | Taxes
Best Way to Avoid an IRS Audit: Preparation Getting audited by the IRS is no fun. Some taxpayers are selected for random audits every year, but the chances of that happening to you are very small. You are much more likely to fall under the IRS’s gaze if you make...
Jan 17, 2024 | Taxes
Tips for a Smooth Tax Season With tax season officially underway, here are tips to make filing your return as stress-free as possible: Gather your tax information for filing. Items you’ll need include W-2s, 1099s, K-1s and other forms you receive from your...
Jan 8, 2024 | Taxes
Watch Out For These Unexpected Tax Surprises! No one likes surprises from the IRS, but they do occasionally happen. Here are some examples of tax situations you could find yourself in and what to do about them. Kids Getting Older Tax Surprise Your children are a...
Dec 6, 2023 | Taxes
Year-End Tax Cutting Moves to Consider Here are moves you can make to reduce your taxable income. But the year is quickly coming to a close, so plan accordingly. Max out pre-tax retirement savings. The deadline to contribute to a 401(k) plan to get a 2023 taxable...
Nov 20, 2023 | Taxes
Year-End Tax Planning Tips for Your Business As 2023 winds down, here are some ideas to help you prepare for filing your upcoming tax return: Informational returns. Identify all vendors who require a 1099-MISC and a 1099-NEC. Obtain tax identification numbers (TINs)...
