All posts in Tax Information

Taxes and Charitable Giving

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Tax form on gifts to charity with a pencil to fill out taxes and deductions.

These days, charities need your support more than ever. As you lend a helping hand, keep the following tax facts in mind. The tax consequences of charitable gifts If you Read more

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GIfts: Who Pays Tax and When?

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Cash rolled up with a bow representing gift tax

Receiving a gift is not a taxable event to the one who receives the gift. If the gift is large enough, it could result in gift tax being due by Read more

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The New Business Deduction

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Businessman using calculator and laptop

Stop worrying and start preparing A new deduction is available to businesses with qualified business income (QBI). While that’s great news, new deductions (especially ones with lots of rules) can Read more

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Early Warning Signs of a Tax Problem

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A stressed woman going through tax paperwork

There are many factors that can cause an unfavorable tax swing leaving you with a surprising tax bill in the spring. Here are six warning signs that you might have Read more

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The IRS Loves Your Business … and That is NOT Good

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W-9 tax form with a pen and calculator

The IRS continues to focus their audit activities in key small business areas. The wise business owner is well advised to be able to defend the following five areas to Read more

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Education: Tax Changes You Need to Know

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Piggy bank with graduation cap next to books and calculator

As students gear up to head back to school, there are some changes to education deductions that could save or cost you more in taxes and even raise college tuition Read more

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Dramatic Sales Tax Change

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Pen and calculator with spreadsheet of numbers

The U.S. Supreme Court issued a ruling in the South Dakota vs Wayfair case that opens the door for states to impose sales tax on sellers outside their borders. The Read more

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Student Loan Forgiveness Creates New Tax Trap

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Student loan forgiveness

There’s a new student loan repayment program that forgives some student loan debt if other payments are made. This new debt forgiveness is creating a tax surprise for the unsuspecting Read more

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Five Tax Breaks for New Parents

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New parents discussing tax breaks and tax benefits from having children

New parents have their work cut out for them. Not only are they dealing with lost sleep, they also face the extra cost of raising a child. At least there Read more

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Know the IRS’s “Dirty Dozen” Tax Scams

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tax scams spelled out in block letters

Every year the IRS releases its “Dirty Dozen” list of the year’s most prevalent tax scams. They include ploys to steal personal information, talk people out of money, or engage Read more

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