Millennials: Redefining Your Tax and Financial Planning

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You’re not like the rest—you’re a millennial, and you’re rewriting the rules of financial planning. As tax and accounting experts, we know that your unique lifestyle demands a fresh approach. With digital tools at your fingertips and…

Untangling the Tax Maze: Who Claims the Kids After Divorce?

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Article Highlights: Custodial Parent Joint Custody Issues Conflicts Between Family Court and the Tax Code Tiebreaker Rules Impact on Dependent Care Credit Child Tax Credit Impact on Earned Income Tax Credit (EITC) Education…

Uncertain About the Reporting Deadlines for BOI?

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Article Highlights: Corporate Transparency Act Beneficial Ownership Information Events Leaving Beneficial Ownership Information Reporting in Doubt History of Events Current Status Back in 2021 Congress passed the Corporate…

How Living in a Community Property State Impacts Married Couples’ Taxes

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Article Highlights:  Community Property Laws Community Property States Domicile and Its Importance Treatment of Community Property Community vs. Separate Property When Community Property Ends Special Rule for Spouses…

Important February 2025 Due Dates

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February 2025 Individual Due Dates February 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during January, you are required to report them to your employer on IRS Form 4070 no later…

Important January 2025 Tax Due Dates

The start of the new year means tax season is here! Stay ahead of the curve by marking these critical January deadlines on your calendar. From making tax appointments to reporting tips, paying estimated taxes, and filing essential forms, being…

How to Handle IRS Letters During Filing Season: What You Need to Know for 2025

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The dreaded moment arrives: you check your mail, and there it is—a letter from the IRS. Your heart sinks. What could it be? A mistake? A penalty? A request for missing information? If this sounds familiar, you’re not alone. During filing…

Essential Tax Credits Every Parent Should Know About

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Article Highlights: Social Security Number Child Tax Credit Child and Dependent Care Credit Adoption Tax Credit Earned Income Tax Credit Credit for Other Dependents American Opportunity Tax Credit Lifetime Learning…

Hidden Tax Benefits: How Equitable Ownership Can Maximize Your Mortgage Interest and Tax Deductions

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 Article Highlights: Equitable Ownership Who Qualifies as an Equitable Owner? Tax Implications of Being an Equitable Owner Mortgage Interest Deduction Property Tax Deduction Examples of Equitable Ownership Examples Where…

Tax-Free Weekends Guide: September – December 2024

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Looking to stretch your dollars further before the end of the year? Tax-free weekends offer a fantastic opportunity to save on essential purchases. From school supplies and clothing to technology and holiday gifts, these special state-sponsored…