You may be thinking about refinancing this year to take advantage of falling interest rates. Or you may have refinanced your home mortgage last year and have yet to file your 2018 return (because you filed an extension). Either way, there are...
Read MoreDo you know where you filed the copies of your tax return? What about your tax return from 3 years ago? The IRS recommends that you keep at least 3 years of tax returns on hand. If you can’t find a copy, tax transcripts may be the...
Read MoreMany people enjoy hobbies that are also a source of income. From painting and pottery to scrap booking and soap making, these activities can be sources of both fun and finances. Taxpayers must ask themselves if their hobby is a recreational...
Read MoreFor many couples, summer is the quintessential time to tie the knot. The weather is warm, the flowers are blooming and nature offers plentiful backdrops for photos. But there’s more than the ceremony to consider when a couple merges their...
Read MoreWhen filing their taxes, taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income. Here are some things that homeowners should think about when selling a home: Ownership and use To...
Read MoreIn a new Revenue Procedure, IRS has provided the 2020 inflation-adjusted contribution, deductible, and out-of-pocket expense limits for health savings accounts (HSAs). HSA basics. Eligible individuals may, subject to statutory limits, make...
Read MoreEveryone in business must keep records. Creating and maintaining thorough business records is essential. It is very important that business owners make a habit of recording their business transactions every day. It will assist in making informed...
Read MoreThe IRS announced that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year. The IRS is generally waiving the penalty...
Read MoreTired of having all those old documents in your attic? Ready to do some spring cleaning? Well get busy! Our office will be hosting a FREE shred event, compliments of The Cleveland Group and Augusta Data Storage. The event will take place...
Read MoreMany people claim the child tax credit to help offset the increasing cost of raising children. The Tax Reform enacted last year made changes to that credit. If you have children, here’s what you need to know about the changes made to the...
Read MoreThe Tax Cuts and Jobs Act enacted in late 2017 affects both individuals and businesses. In addition to nearly doubling standard deductions, TCJA changed several itemized deductions that can be claimed on Schedule A, Itemized Deductions. This...
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