Tax extensions are a controversial subject, and there’s lots of bad information swirling around the internet. Truthfully, six-month extensions have become commonplace among businesses and individual tax payers, and there are virtually no downsides associated with filing one. In fact, filing a tax extensions can provide several valuable benefits, and we’re going to cover some […]
The average cost for an in-town move is about $2,000, while moving across the country can approach $30,000. Because moving is often related to a new job, many people wonder if these considerable expenses are deductible. First, we’ll take a look at the current and previous rules regarding how to deduct moving expenses. Can I […]
Find everything you need to know to correctly estimate and pay your quarterly taxes in this complete guide. […]
With home sales slowing down, lenders are looking for ways to increase the number of mortgages lenders issue. One of the latest marketing ploys is a “buy now, refinance later for free” mortgage. It promises that borrowers can take advantage of lower interest rates in the future. But are these mortgages good for real estate […]
Transportation expenses can be among the biggest expenses for employees and business owners. The IRS allows you to take either the actual expenses for your travel costs or a standard mileage rate. Knowing which one to take can mean significant tax savings. We’ll look at the current standard mileage rates, their use, and the alternative […]
Maybe you’ve been doing your taxes on your own for years, or perhaps you’re filing taxes for the first time ever, but at some point, most people ask themselves: Tax Software or accountant? Should I buy software for tax season or hire someone to do it for me? In this article, we’ll discuss the intricacies […]
Many taxpayers turn to Certified Public Accountants (CPAs) for their expertise and guidance. However, hiring a CPA can come with substantial costs. In this article, we’ll answer the question, “do I need a CPA?,” and we’ll explain what to consider when deciding on the answer for yourself. What is a Certified Public Accountant (CPA)? CPAs […]
Roth IRAs offer substantial benefits for retirement savers, but there are limits on annual contributions. However, you can bypass the limits by converting a regular IRA to a Roth account. A Roth IRA conversion is a powerful tax planning tool, but it comes with some potentially severe tax implications. This blog post will explain everything […]
The tax code gets updated regularly, and this year is no exception. However, there are some particularly impactful changes coming this year thanks to recent legislation. Here are the 6 biggest changes to watch for on your 2023 taxes. What to Expect for 2023 Taxes The 2023 changes to tax laws include adjustments to tax […]
No one wants to take a loss on an investment, but it happens to the best. Fortunately, the government may allow you to deduct your losses on your tax return. Some taxpayers use strategically this write-off to lower their taxable income with a technique called tax loss harvesting. With tax laws constantly changing, it’s important […]