Lindsay

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So far Lindsay has created 258 blog entries.

August 2022 Newsletter

Sold or Thinking of Selling? If you sold your home this year or are thinking about selling it, there are many tax-related issues that could apply to that sale. To help you prepare for reporting the sale you may have already made or make you aware of what issues you may face if you are [...]

By |2022-07-27T22:55:12+00:00July 27th, 2022|Categories: Uncategorized|Comments Off on August 2022 Newsletter

Tax and Personal Finance Tips for New Parents

Expanding your family? Whether you’re in the planning stages or your bundle of joy has already arrived, raising a child is one of life’s greatest joys — and biggest expenses. And we’re not just talking about the costs of college. From diapers to daycare, from braces to bicycles, parents are often shocked by the constant [...]

By |2022-07-25T23:38:12+00:00July 25th, 2022|Categories: Uncategorized|Comments Off on Tax and Personal Finance Tips for New Parents

Tax Benefits for People with Disabilities

Individuals with disabilities, as well as parents of disabled children, are eligible for several income tax benefits. This article explains some of these tax breaks. ABLE Accounts – A federal law allows states to offer specially designed, tax-favored ABLE accounts to people with disabilities. Qualified ABLE programs provide the means for individuals and families to [...]

By |2022-07-25T23:29:15+00:00July 25th, 2022|Categories: Uncategorized|Comments Off on Tax Benefits for People with Disabilities

Steps You Can Take to Grow Your Business to the Next Level

For small business owners, in particular, growing a business has always been something of a challenge. On the one hand, you don't want to grow too quickly - doing so can significantly damage the trajectory that you've set out on. But at the same time, you also don't want to grow too slowly as this [...]

By |2022-07-25T23:12:32+00:00July 25th, 2022|Categories: Uncategorized|Comments Off on Steps You Can Take to Grow Your Business to the Next Level

Sold or Thinking of Selling Your Home?

If you sold your home this year or are thinking about selling it, there are many tax-related issues that could apply to that sale. To help you prepare for reporting the sale you may have already made or make you aware of what issues you may face if you are in the “thinking about” stage, [...]

By |2022-07-06T21:37:07+00:00July 6th, 2022|Categories: Uncategorized|Comments Off on Sold or Thinking of Selling Your Home?

July 2022 Due Dates

July 1 - Time for a Mid-Year Tax Check-UpTime to review your 2022 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties. July 11 - Report Tips to EmployerIf you are an employee who works for tips and received more than $20 in tips during June, you [...]

By |2022-07-06T21:26:45+00:00July 6th, 2022|Categories: Uncategorized|Comments Off on July 2022 Due Dates

July 2022 Newsletter

IRS Announces Mid-Year Optional Vehicle Mileage Rate Increase  Article Highlights: Mid-year IncreaseItems Included in the Optional Mileage RateWhat Can Be Deducted in Addition to the Optional Mileage RateSwitching Methods With gas prices soaring it has been expected the IRS would increase the mileage rate that business owners can deduct for vehicle use instead of keeping [...]

By |2022-07-06T18:14:46+00:00July 6th, 2022|Categories: Uncategorized|Comments Off on July 2022 Newsletter

June 2022 Newsletter

$5,000 First-year Start-up and Organizational Expense Write-offTimely Filing RequirementsQualifying Start-up ExpensesTrade or Business PurchaseQualifying Organizational ExpensesExpense Write-off LimitationsHow to Make the ElectionOther Considerations Unfortunately, as a result of the COVID pandemic many small firms have gone out of business. However, with the help of vaccines and the waning lethality of the latest versions of the [...]

By |2022-06-08T23:22:15+00:00June 8th, 2022|Categories: Uncategorized|Comments Off on June 2022 Newsletter

When Can You Dump Old Tax Records?

General statute is 3 yearsSome states are longerFraud, failure to file and other issues can extend the statuteKeeping the actual return Taxpayers often question how long records must be kept and the amount of time IRS has to audit a return after it is filed. It all depends on the circumstances! In many cases, the [...]

By |2022-06-08T21:38:27+00:00June 8th, 2022|Categories: Uncategorized|Comments Off on When Can You Dump Old Tax Records?

Do You Understand Tax Lingo?

Filing status. Adjusted gross income (AGI).  Taxable income.Marginal tax rate. Alternative minimum tax (AMT). Tax Credits.Underpayment of estimated tax penalty. When discussing taxes, reading tax-related articles or trying to decipher tax form instructions, one needs to understand the lingo and acronyms used by tax professionals and authors to be able to grasp what they are saying. It can be [...]

By |2022-06-08T20:57:36+00:00June 8th, 2022|Categories: Uncategorized|Comments Off on Do You Understand Tax Lingo?