Taxes and Holiday Gift Giving

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Article Highlights: Watch Out for Holiday Gift Scams Gifts with Tax Benefits Gift of College Tuition Gift of College Student’s Supplies Payoff of Student Loan Debt Clean Car Credit Qualified Tuition Programs Qualified…
Quickbooks

Year-End Prep: 5 Key QuickBooks Online Tasks Before January 1

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December always seems to fly by. In just a few short weeks, Thanksgiving dinner will be over and it will be time to welcome the New Year. The holiday season brings personal obligations, but for retailers, it's also the busiest time of the year.…
Demystifying Business Valuations

Demystifying Business Valuations: A Guide for Informed Decision-Making

As a business owner, understanding the value of your company is crucial for various scenarios, from transactions to tax reporting, financial reporting, and even potential litigation. In this comprehensive guide, we’ll address ten commonly…

Employers, Don’t Miss Out on the Work Opportunity Credit

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Article Highlights: Potential Credit Eligible Employees Credit Determination Certification Process Other Issues The Work Opportunity Tax Credit (WOTC) allows an employer who is willing to help disadvantaged individuals to…

Cracking the (Tax) Code: Your Guide to Tax Jargon

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Do taxes have you feeling like you've stumbled into a secret society with its own language? You're not alone! The world of taxes is full of jargon that can leave even the savviest of individuals scratching their heads. But don't worry, we’re…

Important November 2023 Due Dates

November 2023 Individual Due Dates November 13 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during October, you are required to report them to your employer on IRS Form 4070 no later…

A Tax Twist on Your Favorite Game Show

Article Highlights: Unexpected 1099-MISC Cash Winnings Prize Winnings Famous Prize Winnings If you like to watch game shows and enjoy all the excitement that goes with watching contestants win prizes, then you can add another…

Innocent Spouse Tax Relief

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Article Highlights Overview Innocent spouse relief Separation of liability Equitable relief Fairness Facts and Circumstances Confidentiality If you are or were married and filed your federal tax return jointly with your…

IRS Alters Audit Focus

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Article Highlights  Audit Methods Additional Audit Funding Taxpayers Earning Less Than $400,000 Earned Income Tax Credit Taxpayers With Total Positive Income Above $1 Million Partnerships Foreign Bank Accounts Employee…

Tax Benefits for Members of the Military

Article Highlights:  Service Member and Spouse Residence or Domicile Non-Taxable Allowances Combat Zone Exclusion Home Mortgage Interest Deduction Home Property Tax Deduction Home Sale Gain Exclusion Moving Deduction …