Recordkeeping Tips to Keep the IRS Away
Finance Tips, Tax Tips, TaxesArticle Highlights:
Tax Recordkeeping Tips
Receipts
Auto Deductions
Gifts
Business Equipment
Ordinary and Necessary
Meals & Lodging
Entertainment
Home Office
With the ever-increasing complexity of our tax…
Made a Mistake on Your Tax Return - What Happens Now?
Tax Refund, Tax Tips, TaxesArticle Highlights:
Tax Return Mistakes are Common
Fixing Tax Return Mistakes
Amended Return
Superseding Return
Don’t Procrastinate in Responding to IRS
Generally speaking, tax return mistakes are a lot more common than…
Owe Taxes and Can’t Pay by the Due Date?
2021 Due Dates, Tax Planning, Tax Refund, Tax Tips, TaxesArticle Highlights:
If you can’t pay
Loans
Credit card payments
IRS Installment agreement
Retirement funds
The vast majority of Americans get a tax refund from the IRS each spring, but what if you are one of those who…
Unpaid Debt Taking Your Tax Refund?
Tax Refund, Tax Tips, TaxesArticle Highlights:
Bureau of the Fiscal Service
Allowable Refund Offsets
Disputing an Offset
Injured Spouse Claim
We all look forward to receiving our tax refunds, but what if you were expecting a refund and it never arrived? …
Consequences of Filing Married Separately
2021 Tax Laws, Tax Planning, Tax Tips, TaxesArticle Highlights:
Changing Filing Status
Liability
Community Property States
Social Security Benefits
Capital Loss Limitations
Sec 179 Business Expensing Election
Rental Loss Limitation
Traditional IRA Contributions
…
The Tax-Filing Deadline Is Around the Corner
2021 Due Dates, Tax News, Tax Tips, TaxesArticle Highlights:
Extensions
Balance-Due Payments
Contributions to Roth or Traditional IRAs
Individual Refund Claims for the 2017 Tax Year
Missing Information
As a reminder to those who have not yet filed their 2020…
Refund Statute Expiring: Don’t Miss Out!
Tax Refund, Tax TipsArticle Highlights:
The refund statute expires on May 17, 2021 for unfiled 2017 returns.
Unfiled returns will lose out on refundable credits.
Refunds may be offset by unpaid child support, past due student loans, and back taxes.
If…
Writing Off Your Business Start-Up Expenses
Small Business, Startup, Tax Planning, Tax TipsArticle Highlights:
$5,000 First-year Start-up and Organizational Expense Write-off
Timely Filing Requirements
Qualifying Start-up Expenses
Trade or Business Purchase
Qualifying Organizational Expenses
Expense Write-off…
Tax Filing Deadlines Are Rapidly Approaching
2021 Due Dates, IRA Contributions, IRA's, Tax Refund, Tax Tips, TaxesArticle Highlights:
Filing Due Date
Balance due payments
Contributions to a Roth or traditional IRA
Estimated tax payments for the first quarter of 2021
Individual refund claims for tax year 2017
Just a reminder to those…
Easily Check the Status of Your Refund
Tax Refund, Tax TipsArticle Highlights:
Your Federal Tax Refund Status Can Be Checked Online
Delay When Claiming Earned Income Tax Credit or Additional Child Tax Credit
“Where’s My Refund?”
Refunds Are Generally Issued Within 21 Days of E-Filing
…