Eight Tips to Prevent Identity Theft

Eight Tips to Prevent Identity Theft Identity theft happens when someone steals personal information for financial gain. Tax-related identity theft happens when someone uses another person’s stolen Social Security number (SSN) or Employer Identification Number (EIN) to file a tax return to obtain a fraudulent refund. Many people first find out they are victims [...]

By |2017-08-28T09:01:47-07:00August 28, 2017|General Information, Tax Tips|

Debt Cancellation May be Taxable

Debt Cancellation May be Taxable If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who had their mortgage debt canceled in 2016. Here are 10 tips about debt cancellation: Main Home. If the canceled [...]

By |2017-08-07T13:59:41-07:00August 7, 2017|General Information, Tax Planning, Tax Rules & Laws, Tax Tips|

Moving Expenses Can Be Deductible

Moving Expenses Can Be Deductible Did you move due to a change in your job or business location? If so, you may be able to deduct your moving expenses. Moving expenses can be deductible and taken as a deduction to Adjusted Gross Income. Here are some tax tips for moving expenses. In order to [...]

By |2017-05-22T09:43:47-07:00May 22, 2017|Tax Credits & Deductions, Tax Tips|

2016 Year-End Letter

2016 Year-End Letter 2016 is coming to an end and it will soon be time to file income taxes. We look forward to seeing you again as we assist you with your income tax preparation. We have compiled a list of planning tips and suggestions in our year-end letter and recommend that you take [...]

By |2016-12-21T12:01:22-07:00December 5, 2016|Tax Tips, Tax Tips for Businesses|

Capital Gains and Losses – Helpful Facts

Capital Gains and Losses – Helpful Facts When you sell a capital asset, the sale normally results in a capital gain or loss. A capital asset includes most property you own for personal use or own as an investment. Here are helpful facts that you should know about capital gains and losses: 1. Capital Assets.  [...]

By |2016-12-21T12:01:44-07:00October 19, 2016|Tax Tips, Tax Tips for Businesses|

Do I Need a Living Trust?

Do I Need a Living Trust? Assets placed in a revocable living trust go directly to your heirs when you die, bypassing the sometimes lengthy and costly process of probate. That can make a living trust a valuable estate planning tool if, for example, you plan to disinherit one of your children or leave [...]

By |2016-12-21T12:02:57-07:00July 6, 2016|Tax Planning, Tax Tips|

June Tax Tips – Avoid an Audit

Tips to Help AVOID AN AUDIT In 2014, the IRS audited less than 1% of individual income tax returns filed for the 2013 tax year. That's fewer than in the past and may reflect lower agency funding and manpower. Still, it amounted to more than 1.2 million audited returns - about three out of [...]

By |2016-12-21T12:03:06-07:00June 13, 2016|Tax Tips, Tax Tips for Businesses|

2015 IRA Contribution Facts

2015 IRA Contribution Facts Did you contribute to an Individual Retirement Arrangement last year? Are you thinking about contributing to your IRA now? If so, you may have questions about IRAs and your taxes. Here are some IRS tax tips about saving for retirement using an IRA: Age Rules. You must be under age [...]

By |2016-12-21T12:03:35-07:00March 16, 2016|Tax Credits & Deductions, Tax Planning, Tax Tips|
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