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Effective and Marginal Tax: Know Yours!

Effective and Marginal Tax: Know Yours!

Understanding the difference between these two tax rates The tax code is filled with terms we rarely use in everyday conversation. Two of the more common are Marginal Tax Rates and Effective Tax Rates. Knowing what they mean can help you think differently about your...
You Can’t Deduct that Loss

You Can’t Deduct that Loss

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...
It’s Tax Time! Estimated Taxes are Due.

It’s Tax Time! 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 Monday, April 18th. Here is what you need to know. First quarter due date: Monday, April 18, 2022 The estimated...
April Fools! You’ve Been Scammed.

April Fools! You’ve Been Scammed.

Great tips to identify scams BEFORE they happen In honor of the traditional day of practical jokes and harmless antics, instead of chasing the hottest new tax scam, why not arm yourself with traits that will help identify even the most recent version of them. Here is...
A Time to Organize

A Time to Organize

Diverse tax reporting makes this year a challenge The time to organize your tax records is now. Informational tax information is hitting your regular and digital mailboxes from now until late March. To make matters worse, this year there are economic recovery...