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Homeowner Alert! Review Your Tax Forms
New tax rules are creating confusion Home-related tax rules changing over the past few years have caught some taxpayers by surprise. When your mortgage company reports tax-related information to you and the IRS using Form 1098, it no longer means all the interest and...
Do You Need to File a Tax Return?
Getting this wrong can cost you 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 quick tips to help you determine...
Yikes! It’s that Bad?
The 1040 tax instruction publication lays it all out Any way you look at it, the federal government's spending habits are a big mess. As required by law, in every Form 1040 instruction booklet there's a section that shows where our federal government gets its money...
Make Your Child a Tax-Free Millionaire!
Want to jump start your child's retirement with a million dollar tax-free account? Consider this: The million dollar idea As soon as your child begins to earn income, open a Roth IRA and set a contribution goal to reach before they graduate from high school. Assuming...
Why is the IRS Sending Me This?!?
IRS turns off some notices In a recent announcement, the IRS is telling taxpayers it's turning off some of its automated notices. Here is what you need to know. Background With the pandemic, incredibly late tax law changes from Congress, the congressional imposition...
Common Tax Increase Surprises
I did not owe that last year! Picture this: For the past few years you've received your tax return and have had a small but nice refund. Now imagine your surprise, when this year, you are required to send in a fairly big check to settle your tax bill. Believe it or...
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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