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Save Those Receipts!
These tips are money in your pocket When it comes to taking qualified deductions on your tax return, having proper documentation to prove your expenditure is a must. Here are some typical areas where taxpayers often fall short, costing them plenty during tax filing...
IRS Ends Unannounced Revenue Officer Visits
The IRS recently announced a major policy change that it will end most unannounced revenue officer visits to taxpayers. This announcement is being picked up by all the major news outlets, but as is usually the case, it lacks context. Here is what you need to know....
Amending a Tax Return
Not always needed or wise There's usually an element of relief after your annual tax return has been filed. But what do you do if you find an error on your tax return? Should you always file an amended return? Here are some things to consider. Errors in the IRS's...
Cash in on 0% Capital Gains Tax Rate
While the maximum capital gain tax rate can be as high as 23.8 percent, most taxpayers pay 15 percent. But there is the possibility to have your capital gains go tax-free...yes, zero percent! In fact, this tax break has been around for more than a decade and comes...
2024 Health Savings Account Limits
New contribution limits are on the horizon Contribution limits for the ever-popular health savings account (HSA) are set for 2024. And inflation adjustments break through the historic trends of 1 to 2% increase each year. Next year the amount you can save to pay for...
Tax Tips for Those Getting Married
Know someone getting married? Send them this tip now. If you recently got married, plan to get married, or know someone taking the matrimonial plunge, here are some important tax tips every new bride and groom should know. Notify Social Security. Notify the Social...
Have Questions About the New Tax Laws?
Tina Minton is available to share with your business team or service organization. Her 30-minute presentation is ideal for sales meeting, lunch and learn, or other events. Please contact Brea at 757-546-2870 to schedule.
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