What you need to do NOW! Tip Category: The Audit Preparing to file your tax return is a great time to ensure you have proper documentation to substantiate your tax deductions. This is important as many banks start deleting online documentation that is over one year old. Background Two things have happened over the past ten …
Month: February 2024
The $500,000 Homeowner Tax Break
Understand the rules now to avoid a tax surprise later Tip Category: Your Income There is large tax break that allows you to exclude up to $250,000 ($500,000 married) in capital gains on the sale of your personal residence. But making the assumption that this gain exclusion will always keep you safe from tax can be …
Common Missing Items = DELAYS
Review these common causes of filing delays Tip Category: Miscellaneous Double-check this list of items that often cause delays with both filing your tax return and getting your much anticipated refund. Missing W-2 or 1099. Using last year's tax return, make a list of W-2s and 1099s. Then use the list to ensure they are received …
The Paycheck Tax Tip
A great place to lower your taxes Tip Category: Your Income The tax code has plenty of ways to reduce your taxable income, and many take place on your paycheck. If you haven’t already done so, now is a great time to conduct a thorough review of your paystub. Here are some tips: Review insurance …
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