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

IRS Audit

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

Back to School Image

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:

Need A Copy Of Your Tax Return?

Retaining copies of your federal tax return is important. Not only will you need the return in case of an audit, but the tax return is often used to secure student aid, obtain loans, purchase a home or business, plus much more. What can you do if you cannot find a copy of your tax return?

Are Your Parents Safe from Scams?

Scam artists often seem to target older adults because they’re generalized as being more trusting and more easily confused than others. Whether or not that’s true, you can help protect your parents and the other older adults in your life by following a few simple steps:

Health Savings Accounts Pay Medical Costs and Cut Taxes

Health savings accounts can be used to build tax-sheltered nest eggs that can pay out-of-pocket medical expenses with tax-free dollars.

Intended to be used in conjunction with high-deductible insurance plans, health savings accounts (HSAs) are designed to help pay your medical expenses until your insurance policy begins picking up expenses.

Double Check the Check

Following these tips when you receive a payment from the Federal or State government can save you more headaches than you can imagine.