Tag Archives for " business taxes "
Now is the Time for Year-End Tax Planning
With only a little while left in 2022…It’s time to review your year-end tax plans.Knowing the federal tax breaks to take advantage of and the pitfalls to avoid can save you money. Let’s start
Read MoreIRS Criminal Investigators Probe COVID Fraud
Billions of dollars in fraud related to pandemic relief have been uncovered by a joint division of the Internal Revenue Service's Criminal Investigation unit and the Justice Department. The division, also
Read MoreTax Relief For Victims of Hurricane Ian in Florida
The Internal Revenue Service (IRS) recently announced that individuals, households, and residents who have a business anywhere in the state of Florida qualify for Hurricane Ian tax relief. Here are
Read MoreIs an Army of New IRS Agents Coming for Your Tax Dollars?
The Inflation Reduction Act of 2022 – new multi-billion-dollar energy, healthcare, and tax legislation – provides $80 billion to the IRS and has some people worrying about new IRS agents and audits.President
Read MoreThe IRS Warns Tax Pros of ID Theft Scams
The Internal Revenue Service and its partners are cautioning tax professionals to beware of the latest schemes showing up as ID theft scams to steal taxpayer information through phishing emails.The IRS
Read MoreIRS Sent Erroneous Balance Due Notices to Married Filers
The Internal Revenue Service admitted that some married couples received erroneous or incorrect balance due notices for their 2021 tax returns.The IRS added that no immediate response to the notice or
Read MoreWhat You Should Know About Winning a Lottery Jackpot
It’s definitely not likely you’ll hit big. But if you win, you could be happy for years to come – no matter what the naysayers tell you about winning a lottery.Your Chances of Winning Big are Itty
Read MoreHow Bonuses are Initially Taxed May Create Tax Issues
If your bonus doesn't have the proper withholdings taken out up front, it may create taxes due when you file your tax return.This has been an ongoing issue for people who are paid bonuses during the tax
Read MoreDeducting Mortgage Interest when Your Name is Not on the Deed
Tax law has an exception for unconventional “homeowners”. If you are able to “itemize” your deductions, you can deduct the mortgage interest payments even when the deed to the house and the mortgage
Read MoreWhat Independent Contractors Need to Know About Taxes
If you’re self-employed or a freelancer, you are likely paid as an independent contractor rather than as an employee. And paying taxes as an independent contractor is different from paying employee taxes.Many
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