Starting in January 2021, the IRS Identity Protection PIN Opt-In Program expanded to include all taxpayers who can properly verify their identity. Previously, IP PINs were only available to identity… Read More
Many people assume tax planning is the same as tax preparation, but the two are quite different. Let’s take a closer look: What is Tax Preparation? Tax preparation is the… Read More
Filing your tax return promises to be just as complicated as always – especially if you received stimulus payments or advance child tax credit payments. However, there are steps that… Read More
Cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for 2022 are as follows: 401(k), 403(b), 457 plans, and Thrift Savings Plan. Contribution limits for employees… Read More
Credit card balances typically follow a seasonal pattern, increasing significantly in the fourth quarter, coinciding with holiday shopping, and millions of taxpayers are still carrying debt from last year’s holiday… Read More
As we close out the year and get ready for tax season, here’s what individuals and families need to know about tax provisions for 2021. Personal Exemptions Personal exemptions are… Read More
Key tax provisions in the American Rescue Plan Act of 2021 could affect your tax situation. Here’s what you need to know: Child and Dependent Care Credit Increased for 2021… Read More
While the Net Investment Income Tax (NIIT) tends to affect wealthier individuals most often, in certain circumstances, it can also affect moderate-income taxpayers whose income increases significantly in a given… Read More
If you’ve given money or property to someone as a gift, you may owe federal gift tax, but in many cases, you will not. For example, there is usually no… Read More
Apps like Robinhood make it easy for everyone to play the stock market. If you’re a retail investor who made money last year buying and selling stocks, you may owe… Read More
Many people assume tax planning is the same as tax preparation, but the two are quite different. Let’s take a closer look: What is Tax Preparation? Tax preparation is the… Read More
The “Dirty Dozen” is a list of common tax scams that target taxpayers. Compiled and issued annually every year by the IRS, this year it includes many aggressive and evolving… Read More