Increased Tax Bills Hitting Private Companies Big and Small
Private companies both large and small are feeling the tax pinch due to changes in the law. With rampant inflation, labor shortages, lingering supply chain issues and increased borrowing costs due to rising interest…
End of Covid Emergency Declarations Put Work from Home Benefits at Risk
The end of the federal emergency declaration for Covid-19 came on May 11. As a result, there are various public health policy changes. For example, vaccines and treatments will remain available, but at-home tests…
I Needed to Repay Part of My Compensation; Will I Get a Refund on My Taxes?
So, you filed and paid all your taxes on the money you earned in 2021. Now, the company you work for finds itself in trouble and you are forced to pay back part of your compensation. The big question is, will the IRS refund you for the taxes you already…
How Volunteering Can Earn You a Big Tax Deduction
Most people volunteer out of a sense of altruism, duty or purpose – not to get a tax deduction from Uncle Sam. At the same time, if your good deeds could also result in lower taxes, why not? Theoretically, this…
Sold Your Home Last Year or Plan to in 2023? If So, Here’s What You Need to Know
The U.S. housing market has been extremely volatile over the past year. Year-over-year growth rates were at highs of 20.1 percent in April 2022, then declined to only 8.6 percent in…
Key Deadlines and Changes for the 2023 Tax Season
Every year, typically right after the new year starts, the IRS formally announces key dates and deadlines for the current tax season. Recently, the IRS made the announcements for the current 2023 tax season…
The IRS Versus the Taxpayer
According to the IRS, not only is your ignorance no excuse, but so is that of your tax preparer. In other words, the fact that your tax preparer made a mistake is no excuse and will not absolve you from compliance…
The 2022 Tax Guide
Now is the time of year to do everything you can to minimize taxes and maximize your financial health with proper year-end planning. In this article, we’ll look at several actions to consider taking before the end…
Tax Planning Guide for Disaster Area Victims
The recent hurricane Ian impacted much of the southeast United States. As a result, it is good to know the general tax rules related to disaster victims. Below, we look at several tax topics for disaster area victims.
How to Increase After-Tax Returns on Investments
It is all about how much you keep after taxes – not what you earn from your job, a business or investments. While it is always great to see fabulous investment gains, the only financial metric that really…