by Christina Minton | Aug 15, 2022 | Miscellaneous
How to ensure your business is not deemed a hobby You’ve loved dogs all your life so you decide to breed them and start a dog training business. Is this a business in the eyes of the IRS or a hobby? Knowing what the IRS is looking for and properly positioning your...
by Christina Minton | Aug 8, 2022 | Deductions
Summer is coming to a close and the back-to-school advertising blitz is underway. Hidden in some of those school expenses are tax deductions you can take advantage of. Here are some ways you can save: Watch for tax deductions on the supply list. Schools often send a...
by Christina Minton | Aug 1, 2022 | Planning
The tax code is about 75,000 pages long, so it’s not surprising there are many overlooked money-saving deductions hidden within it. And with the much higher standard deduction amounts, those who do not itemize think there are no longer ways to reduce your taxes. Since...
by Christina Minton | Jul 25, 2022 | Whats New
New contribution limits are on the horizon Contribution limits for the ever-popular health savings account (HSA) are set for 2023. The new limits are outlined here with current year amounts noted for comparison. So plan now for your 2023 contributions. What is an HSA?...
by Christina Minton | Jul 18, 2022 | The Audit
Each year, the IRS audits over 1 million tax returns. With agency resources shrinking, the IRS is more selective when choosing which tax returns to audit. Knowing what the IRS is looking for can help you understand and reduce your audit risk. Here are five of the...
