If you need to call the IRS this tax season, be aware that you'll be asked to verify your identity. This is part of the IRS's continuing effort to keep taxpayer data secure. You can help your phone call go smoothly by having the following information handy when you dial:
If you plan on deducting charitable contributions on your 2017 tax return, you'll need to have certain records.
If you're an employee who has deducted unreimbursed job expenses in the past, know that this deduction is now no longer available under the Tax Cuts and Jobs Act.
Good news – there are a lot of revenue sources that aren't taxed. You may have an idea of what they are, but here's a quick list to review.
The Tax Cuts and Jobs Act (TCJA) passed in late 2017 made big tax changes, including to individual tax rates. If you are self-employed or retired and pay your taxes on a quarterly basis, calculating your new tax obligation is going to be a little more complicated than usual.
The IRS urges taxpayers to beware of fake calls to return money from tax return refund checks that have been deposited in error into bank accounts.
Three-fourths of filers get a tax refund every year, with the average check weighing in at $2,895. Here are some ideas to put that money to good use:
Those who care for people who are sick, elderly or disabled are often up against a lot of challenges. Fortunately, there may be a handful of tax breaks that can help.
Several tax breaks were revived for use in 2017 tax filing by last month's federal budget bill.
If you’ve ever had to care for a sick, elderly or disabled person, you know it can be difficult financially as well as emotionally. A recent study found that many caregivers are forced to make financial sacrifices, including delaying retirement, in order to help their loved ones.
Luckily, there are three key federal income tax breaks available to help lighten the financial burden on caregivers. Here are some tips to help take advantage of them:
March 2018
In this issue:
This Month:
Tax season is underway, and articles in this month's issue will help get you over the finish line. Included are some answers to commonly asked tax questions, an update on some late tax breaks now available for 2017, and some tips on how to stay organized when you file your return this year. Also included is an article about how to make social media use healthier for you and your family.
Should you wish to review your situation, please feel free to call. Also feel free to forward this newsletter to someone who may benefit from this information.
If you're considering hiring a family member, the best way to avoid problems is to keep it professional.
Emergency funds can be a lifesaver. Do you have extra funds saved for unexpected times? If not, it's time to consider how much you'll need if you fall on hard times.
One of the things that’s going away under the new tax reform laws implemented this year is an employee’s ability to deduct unreimbursed expenses related to their job.
The IRS is warning taxpayers to keep on high alert for the next few months. Scammers may try to get their hands on your money or tax return by collecting your personal or financial data. According to the IRS, its employees will never: