Finance

Thankfully it’s not too late to try and minimize your taxes for 2023. If you haven’t scheduled a tax planning session, now is a great time to do so. Here’s…

Think twice about automatically paying the amount due on a notice Here are several quotes from actual IRS correspondence that serves as evidence that our national tax collection agency is…

Here’s a roundup of several recent tax court cases and what they mean for you. Blogging for Taxes (Thomas v. Commissioner of IRS, 160 T.C. No. 4) The innocent spouse…

Many clients like to keep their federal tax withholdings as low as possible to avoid the IRS having their funds interest-free throughout the year. Other taxpayers, especially those with non-payroll…

If you contribute too much money into your IRA during the year, how do you correct the problem without facing a tax penalty? Here are some tips. Remember the annual…

The tax code uses jargon that can be confusing for the unwary. One of them that impacts most of us is the term unearned income. Unearned income is often defined as…

A silver lining to continued interest rate hikes by the Federal Reserve is being able to earn more interest on cash stashed in your savings accounts. How much interest, exactly,…

There are many tax benefits built into home ownership. Here is a review of the most common. The home gain exclusion. When you sell an asset for a profit, it creates…

Companies want to make it easy to buy their big-ticket items, especially at times of economic uncertainty. A popular technique is to offer 0% financing when you buy furniture, electronics…

While the maximum capital gain tax rate can be as high as 23.8%, most taxpayers pay 15%. But there is the possibility to have your capital gains go tax-free…yes, 0%!…

The IRS recently announced a major policy change that it will end most unannounced revenue officer visits to taxpayers. This announcement is being picked up by all the major news…

Getting a bill for an unexpected expense can put a dent in your business’s cash flow. Here are some tips your business can use to handle these unforeseen bumps in…

  Financial experts are bracing for more interest-rate hikes by the Federal Reserve over the remainder of 2023. Any interest-rate revision — either increasing or decreasing — can cause a ripple…