by Christina Minton | Jul 19, 2021 | Your Income
Are you withholding enough for your taxes? As we enter mid-year, it’s a good time to check your tax withholdings to ensure you haven’t been paying too much or too little. This is especially true if your income was impacted by the pandemic or you have a...
by Christina Minton | Apr 26, 2021 | Your Income
Hot housing market requires tax knowledge With housing prices skyrocketing, more homeowners are considering cashing out to multiples over list price! Especially since one of the largest tax breaks available to most individuals is the ability to exclude up to $250,000...
by Christina Minton | Mar 29, 2021 | Your Income
Wouldn’t it be nice to have a source of nontaxable income? You may be more fortunate than you realize. Here are several types of income that the IRS does not tax. 1. Tax-free interest. The federal government does not tax municipal bond interest. This includes...
by Christina Minton | Feb 22, 2021 | Your Income
Your grandson needs a car, but cannot afford the payments. As a favor, you provide the $25,000 to purchase the car. You tell your grandson to pay you back when he can, but there is no loan document. The IRS sees this payment during an audit and asks you where your...
by Christina Minton | Feb 1, 2021 | Your Income
Your 1099’s are coming soon! Virtually every small business, including sole-proprietors, must issue at least one 1099 each year. And this year there is a new one called the 1099 NEC. Here is a summary of the most common of these informational tax forms that you...
