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Annual Credit Check More Important Than Ever

In the past few months, the IRS has admitted to a major breach into taxpayer records. This breach was not a hacking operation. The thieves had valid names, addresses, Social Security Numbers and more. They used this information to get by the security measures in place on the IRS website…. Read More

IRS Erroneously Denies Educator Deduction Claims

During its annual review of the tax filing season, the Treasury Inspector General for Tax Administration (TIGTA) discovered the IRS was incorrectly denying educator expense deductions for some taxpayers. The deduction In 2014, qualified educators could reduce their income by up to $250 for classroom related expenses. This deduction is… Read More

B-Corps; What are They?

Kickstarter, a popular crowdsource company that helps new inventors raise money to fund their creative projects, recently announced they are becoming a Benefit Corporation. While many of us may not know what this means, the move by Kickstarter is becoming more popular. Here is what you need to know. Benefit… Read More

Preview Key 2016 Tax Figures

  While official numbers for 2016 are not yet released by the Internal Revenue Service (IRS), many figures are formulas set within the Internal Revenue Code (IRC) or are based on the Consumer Price Index (CPI) published by the Department of Labor. Using the release of recent CPI figures, a… Read More

Understanding the Home Gain Exclusion

When is a tax planning session essential? For those who qualify, a married couple can exclude up to $500,000 ($250,000 for unmarried taxpayers) in capital gains from the sale of your principal residence. This exclusion can be taken once every two years as long as you meet a two-years out… Read More