Are You Using the Right Business Structure?
The business entity you choose has a great impact on your taxes and liability. Choose wisely. There’s so much you may be required to do when you launch a...
Will You Claim Dependents on Your 2022 Tax Return?
It seems like a simple question, but the IRS’ definition of “dependent” is broader than you might think. The IRS Form 1040 starts with the easy questions. What’s your...
Buying a New Home? What’s Tax Deductible?
Yes, you’re taking on a big debt, but you may be eligible for income tax deductions and credits. It’s probably the biggest expense you’ll ever have in your life:...
Will the Inflation Reduction Act Affect Your Income Taxes?
Recently signed by President Joe Biden, this new legislation comes with some tax law changes that may affect you. There’s been no shortage of discussion on Capitol Hill over...
What to Do If You Get a Letter From the IRS
It’s not always a bad thing. Why you might get a letter from the IRS, and what to do about it. Few return addresses are as nerve-wracking as the...
Can’t Pay Your Income Taxes? Some Solutions
Did you skip filing or request an extension on your 2021 taxes because you couldn’t pay? You have several options. It’s happened to many people at one time or...
Need to File An Amended 1040? Here’s How
If you realize that you made an error on a Form 1040 that you’ve already filed, the IRS allows you to fix it. There are so many reasons why...
14 Unusual Tax Deductions That the IRS Allows
You’d be surprised to learn what unexpected tax deductions could be legitimate. If you’re itemizing for tax year 2021, you’re probably trying to claim as many acceptable deductions as...
How to Protect Yourself from Tax Identity Theft
It can happen online or offline. Are you taking steps to protect your identity? As you work on your 2021 income tax returns, the IRS is still catching up...
Starting a Side Gig in 2022? Your New Tax Obligations
It’s not just self-employed individuals who must pay estimated taxes. Here’s what you need to know. W-2 income tax withholding isn’t perfect. You’ve probably had years when you owed...