COMMON TAX MISTAKES As we start tax filing season 2020 I thought it might be a good idea to go over some mistakes that are easy to make when filing your return. All won’t apply to you but one might…

TAX PAYMENTS I think it’s safe to say these are unprecedented times, and there has been talk as I write this (and there may have been changes by the time you read this), but eventually if you owe additional tax…

Changes to Retirement Plan Rules You’re probably aware that your employer is putting most of the burden of saving for retirement on you, the employee. Years ago, many employers provided their employees with a pension, which is a retirement plan…

Recent legislation makes changes to popular retirement savings plans like IRAs and 401(k)s. Here are the major changes and how you can benefit from the new rules. You now have until age 72 before you MUST take withdrawals from your…

With the individual tax-filing deadline on Monday, April 15, now is the time to complete all filing arrangements and payments. Ask yourself these six questions now before it’s too late to act: Do you need to sign your e-file authorization…

If you owe taxes on your 2018 tax return, the due date to make the payment is Monday, April 15. Miss this deadline by just one day and the IRS will charge you interest and penalties! Don’t risk adding unnecessary…

The popular “Where’s My Refund” feature on the IRS website allows you to see the status of your refund after filing your income tax return. What you should know Refunds of e-filed returns usually take 10 to 21 days to…

One of the more common tax questions is whether you need to file a federal tax return this year. The answer is: it depends. But not filing a tax return when you should can cost you plenty. Here are some…

Because of new laws many home related tax rules have changed and now require you to prove how funds are used to qualify for a deduction. This is catching many taxpayers by surprise. So when your mortgage company reports tax-related…

No one likes the stress involved when your tax return is under the audit spotlight. Here are some ideas to avoid some of the more common audit triggers. Report everything that has an informational tax return. If you are like…

The government shutdown is over (for now) and the IRS is up and running. Here is a recap of IRS clarifications regarding the impact of the recent shutdown: Due dates remain the same. All filing due dates remain unchanged. Partnership…

Tax filing season officially begins on Monday, Jan. 28. While the U.S. government remains shut down, the IRS will be bringing back 36,000 employees, without pay, to process returns and issue refunds. With the new rules and uncertainty around the…