Deadline to file 2021 income taxes for both federal and state is April 18, 2022. If you have not yet filed, please call me today or schedule online on my webiste for your appointment. I can file an extension if you need one.
Read More...Tips for parents who share custody or alternate tax benefits
Some parents who have a legal agreement with their child’s other parent about who claims the child on their taxes may have some questions this tax season about the child tax credit and the 2021 recovery rebate credit. Here’s what people in this situation need to know before filing their 2021 federal tax return. Economic…
Read More...Have You Fallen Victim to a Tax Scam, Tax Fraud or Identity Theft? Here’s What to Do Next.
Scammers, fraudsters, and thieves—oh my! Unfortunately, criminals are standing by to steal your identity, your money or both for ill-gotten gain. Technology makes it easier for these “bad actors” to seem on the up-and-up. So, what do you do? You can help protect yourself by: Identifying scams and signing up for the Indiana Attorney General’s fraud…
Read More...IRS reminds taxpayers their Social Security benefits may be taxable
A new tax season has arrived. The IRS reminds taxpayers receiving Social Security benefits that they may have to pay federal income tax on a portion of those benefits. Social Security benefits include monthly retirement, survivor and disability benefits. They don’t include supplemental security income payments, which aren’t taxable. The portion of benefits that are…
Read More...Filing deadline is fast approaching
Filing deadline for 2021 taxes is April 18, 2022. Please be sure to schedule your appointment to make sure you get your refund quickly.
Read More...Here are reasons people who don’t normally file should file a 2021 tax return
With tax filing season is just around the corner, this is a good time for those who don’t normally file to consider the benefits of filing a 2021 tax return. Filing can help them claim a refundable tax credit or get an income tax refund. Here are some things taxpayers should consider when deciding whether…
Read More...IRS warning: Scammers work year-round; stay vigilant
WASHINGTON – As the new year begins, the Internal Revenue Service reminds taxpayers to protect their personal and financial information throughout the year and watch out for IRS impersonation scams, along with other schemes, that try to trick people out of their hard-earned money. These schemes can involve text message scams, e-mail schemes and phone…
Read More...Income Tax vs. Capital Gains Tax: What’s the Difference?
Save money at tax time by understanding which tax applies to what income Income tax is paid on earnings from employment, interest, dividends, royalties, or self-employment, whether it’s in the form of services, money, or property. Capital gains tax is paid on income that derives from the sale or exchange of an asset, such as a stock…
Read More...How to Benefit From Rising Interest Rates
The economy is strong, unemployment is low and inflation is worrisome, hitting a 40-year high of 7% in December. So the Federal Reserve has moved up plans to wind down its bond-buying stimulus program and start lifting short-term rates. Kiplinger forecasts four hikes in 2022, with the first one in March. Rate hikes are a…
Read More...Taxpayers must report gig economy earnings when filing taxes
IRS Tax Tip 2022-07 Whether it’s a full-time job or just a side hustle, taxpayers must report gig economy earnings on their tax return. Understanding how gig work can affect taxes may sound complicated but, it doesn’t have to be. The IRS offers several resources to help gig economy taxpayers properly fulfill their tax responsibilities.…
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