One of the biggest struggles we find as tax preparers is helping clients track their mileage each year. It’s hard to remember when you get in your vehicle to write down your mileage! However, writing off business or medical mileage is a great way to […]
Although tax planning is a 12-month activity, year-end is traditionally the time to review tax strategies from the past and to revise them for the future. Year-end has also become a time when there is an increasing need to take a careful look at […]
The November newsletter continues the discussion into Amended Tax Returns… download this new newsletter here. See previous newsletters in our post last month.
October Newsletter — All about the Amended Tax Return. Sometimes it is necessary to make changes to a return after you file it… this is where an amended return comes in. Find out more in this month’s newsletter! September Newsletter — IP PIN August Newsletter — Deductions July […]
The Free Application for Federal Student Aid (known as the FAFSA) is a form that current and prospective college students (undergraduate and graduate) use to determine their eligibility for student financial aid. There are two major changes to this program: The 2017–18 FAFSA will be […]
If you are divorcing or recently divorced, taxes may be the last thing on your mind. However, these events can have a big impact on your wallet. Alimony and a name or address change are just a few items you may need to consider. Here […]
Usually, profits you earn are taxable. However, if you sell your home, you may not have to pay taxes on the money you gain. Here are ten tips to keep in mind if you sell your home this year. 1. Exclusion of Gain. You may […]
If you made or received a payment during the calendar year as a small business or self-employed (individual), you are most likely required to file an information return to the IRS. Made a Payment If, as part of your trade or business, you made any […]
The Federal Trade Commission recently released a statement warning college students not to fall for a new scam: the federal student tax scam. Students from many colleges are telling the FTC that the calls go something like this: the so-called IRS agent tells you that […]
Getting Advance Payments of the Premium Tax Credit? Remember to Report Changes in Circumstances If you purchased 2016 health care coverage through the Health Insurance Marketplace, you may have chosen to have advance payments of the premium tax credit paid to your insurance company to […]
