Pay attention or you could lose all or part of this $250,000 or more tax deduction! One of the more popular provisions in the tax code is the $250,000 capital gain exclusion ($500,000 for a married couple) of any profit made when selling your home. As long as you follow the rules, most home sales …
Month: March 2024
Anticipating your Refund
What you should know Tip Category: Miscellaneous If you e-file your tax return, you can generally expect to receive your refund within three weeks of it being accepted by the IRS. Expect four or more weeks if you mail in your tax return. But delays can happen. Refund Delays: The common culprits These are the …
Audit Proof Your Tax Return
Tip Category: The Audit. No one likes the stress involved when your tax return is under the audit spotlight. Here are some ideas to avoid some of the more common audit triggers. Report everything that has an informational tax return. If you are like most Americans, you will receive numerous 1099s and W-2s in the mail. The …
Homeowner Alert! Review Your Tax Forms
New tax rules are creating confusion Tip Category: Deductions Because of many home-related tax changes over the years, it can easily confuse taxpayers on what, when and how much can be used to qualify for a home mortgage related deduction. So when your mortgage company reports tax-related information to you and the IRS using Form 1098, …
Your Business Tax Return is DUE!
Time is short to file your S corporation or partnership tax return. The due date is March 15. Here's why you need to file on time. Tip Category: Miscellaneous March 15th is the tax-filing due date for 2023 calendar year S corporations and partnerships. While this filing deadline does not require making a tax payment, missing …
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