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How to Reduce Your Property Taxes
Market values of homes are skyrocketing and higher property tax bills are soon to follow. Prepare now to knock your property taxes back down to earth. What is happening Property taxes typically lag the market. In bad times, the value of your home goes down, but the...
It’s Tax Time! 1st Quarter Estimated Taxes are Due.
Now is the time to file your taxes and make your estimated tax payment. Both your individual tax return AND first quarter estimated tax payment are due by Tuesday, April 18th. Here is what you need to know. First quarter due date: Tuesday, April 18, 2023 The estimated...
Where’s My Refund?
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 process. Paper returns take longer than e-filed...
Understanding the Gift Giving Tax
Excess gift giving could cause a tax surprise In an effort to keep taxpayers from transferring wealth from one generation to the next tax-free, there are specific limits to the amount of gifts one may give to any one person each year. Amounts in excess of this limit...
Audit Target: The Sole Proprietor
Each year the IRS publishes their activities in a publication called the Data Book. And each year for the past number of years the number one target of audits are those tax returns with a Schedule C for small business activity. So how can you prepare yourself for a...
The Marriage Penalty is Alive and Well
Despite what you may think, the marriage penalty is still alive and well. Whether you’re changing your filing status in 2022 because of marriage, divorce or another event (or even if your filing status staying the same), you should review this information and plan...