10 Tax Tips for Individuals

Tax Tips Sticky Note and Coffee image

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

What Is a Capital Gain Distribution?

You receive a taxable gain statement at the end of the year, but you didn’t sell any investments. How can this be? Typically, mutual funds buy and sell stocks or bonds throughout the year. Each time the fund sells an investment, its owners owe tax on their share of any gain. At the end of […]

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 […]

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.