Common Family Tax Mistakes

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Article Highlights Family Member Transactions Renting to a Relative  Below-Market Loans Transferring Home Titles Gifts Basis Life Estate Incorrect Withholding Child Files Incorrect Return When it comes to transactions…

January 2023 Important Due Dates

January 2023 Individual Due Dates January 3 - Time to Call For Your Tax Appointment - January is the beginning of tax season. If you have not made an appointment to have your taxes prepared, we encourage you to do so before the calendar becomes…

Huge Increase in Scam Texts – Don’t Be a Victim

Article Highlights: ID Thieves Are Constantly After Your ID Information There Has Been an Exponential Increase in Text Scams Your Phone Is Their Target How to Report Text and Phishing Scams to the Government. Taxpayers should…

Looking Ahead to 2023 Taxes 

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Article Highlights: Solar Credit Home Backup Electric Storage Battery Credit  Home Energy Improvement Credit  Research Credit Clean Energy Vehicles (New and Used) Credits Standard Deduction Increase Increased Retirement…

How to Manage Your Money During a Recession

According to one recent study, the probability of the United States experiencing a recession in the next year hit 96% in October 2022. If you needed a single statistic to outline the importance of paying attention to what is going on with the…

The Tax Consequences of Gig Work

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Over the last decade, in particular, the definition of the term "career" has changed. Rather than being employed by a single entity for which you receive a W2 at the end of the year, many are now participating in the "gig economy" in a variety…

Holiday Family Employment Tax Benefits

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Article Highlights:  Employing a Child Child Payroll Taxes FUTA Tax for a Child Child IRA Contributions Child Tax-Free Income Spouses Working in the Same Business Partnership Spousal Joint Venture Spouse Employee Along…

Steps Your Business Can Take to Survive a Recession

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According to one recent study, there is a 96% chance that the United States will experience some form of economic recession within the next 12 months. If you needed a single statistic to underline the importance of planning ahead when it comes…

December 2022 Important Due Dates

December 2022 Individual Due Dates December 1 - Time for Year-End Tax Planning December is the month to take final actions that can affect your tax result for 2022. Taxpayers with substantial increases or decreases in income, changes in marital…

Ways To Save on Your Taxes If You are Laid Off 

If you've been following the news recently, you're no doubt aware of a massive round of layoffs that struck one of the most popular social media sites in existence, Twitter. Under the direction of new owner Elon Musk, it was estimated that as…