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Tax Planning Season is Now

Take multiple years of last minute tax law changes, add major sections of the tax code that expire each year only to be extended, and mix in major pre-formulated tax code changes. All this adds up to lots of potential for tax savings, but only if you plan accordingly. This… Read More

Five Smart Uses for Your Tax Refund

So you were fortunate enough to receive a tax refund this year. What are your plans for the money? Here are five ideas worth considering.   Pay down debt. Start with debts that carry the highest interest rates first, then move down the line. This is like savings on savings… Read More

You Still May Wish to File a Tax Return

Too many taxpayers fail to file a tax return under the false notion that one is not required to pay income tax. This assumption can cause problems. Here are some examples of when to file a tax return even when not required to do so. Wish to qualify for Premium… Read More

Understanding the Gig Economy

Some believe that by the year 2020 40% of all jobs will be part of the Gig Economy. So what is this phenomena and how can you take advantage of it?     It’s all in the name The “Gig Economy” is a morphed description of old titles like the… Read More

Non-profit Annual Filing Due

Annual reporting is required for all organizations that wish to keep their non-profit status intact. The due date for this filing is May 16, 2016 for calendar year organizations. How can you help ensure your favorite charities stay compliant? Check on-line. The IRS has a master list of charitable organizations… Read More

2015 Tax Quiz

The states must be crazy Historically, nexus laws protect consumers and businesses from paying taxes to states where they do not visit or live. These laws are intended to protect interstate commerce. With the lack of strong federal tax guidance, many states are now passing fairly creative laws to reach… Read More

IRS Announces Dirty Dozen Tax Scams

Each year the IRS announces “Dirty Dozen Tax Scams” they encounter regarding frivolous tax arguments and fraud. While six of the “scams” are related to, “don’t cheat we have our eyes on you,” the other six are scams that all of us should be on guard to detect. Identity theft…. Read More

A Dozen IRS Not so Fine Penalties

Over the past few years the IRS has made the use of penalties and fines a more prevalent tool to encourage compliance among taxpayers. This “stick” approach is in direct contrast to the “voluntary” philosophy built within our tax system. Here are a dozen of the more common penalties and… Read More

Twelve Common Missing Tax Return Items

  Want your tax return filed quickly and without error? Then double-check this handy list of items that are often overlooked. Review and signing your e-file approval. The sooner you review and approve your tax return, the sooner it can be filed. Having proof of health insurance. Most taxpayers should… Read More