10 Tax Tips for Individuals

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Only the informed taxpayer can take advantage of tax-cutting opportunities. Here are suggestions you should consider for cutting your taxes.

Tips to Organize Your Tax Records

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 going through piles of paper looking for that elusive missing 1099 tax form or […]

Tax Software: Is it the Best Way to Go?

Some popular tax preparation software is relatively inexpensive, but what does using software to prepare your taxes really cost you? Missed deductions and tax credits, improper or overlooked tax elections, unnecessary penalties, and neglected long-term tax planning can be very expensive. Are you familiar with the rules and qualified to tackle your taxes by yourself? […]

Using Losers to Make Winners

Understanding the rules surrounding investment losses can really help minimize your tax obligation each year. This is because investment gains and income can be subject to a variety of federal tax rates as high as 37 percent. This and a 3.8 percent Medicare investment tax surcharge make planning around when to take investment losses an […]

So You Sold Your Home, Now What?

If you’re considering selling your home or have recently sold your home, there are possible tax consequences. The good news: much of the gain on the sale of your home may be tax exempt. Here’s what you need to know: Capital Gain Home Sale Exclusion You can generally exclude $250,000 of any gain on the […]

Adjusted Gross Income (AGI)

Adjusted Gross Income (AGI) is one of the core tax terms used by Federal and many State taxing authorities. So, what is it and why is it important?

Avoid These Small Business IRS Audit Mistakes

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IRS audits – In late 2020, the IRS announced that it will increase tax audits of small businesses by 50 percent in 2021. Here are several mistakes to avoid if you do get audited.

Back to School Savings: Tips to Make School Expenses Deductible

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It seems like summer has just begun and the Back-to-School advertising blitz has already started in the media. Are there tax savings tip opportunities within this nightmare for our kids? Certainly, if you are tax smart about your spending. While the amounts may be small, they can add up in a hurry. Here are some ideas: