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Tax Season Is Long Over, but Tax Scams Are Thriving

Tax Season Is Long Over, but Tax Scams Are Thriving

by Gabby Miller | Sep 8, 2023 | Individuals, Newsletter, Tax

The IRS is warning taxpayers about emails and text messages that promise refunds and credits, but that actually result in identity theft. Many current schemes involve the third Economic Impact Payment (originally made in 2021). Messages may also reference the Employee...
An “Innocent Spouse” May Be Able to Escape Tax Liability

An “Innocent Spouse” May Be Able to Escape Tax Liability

by Gabby Miller | Sep 6, 2023 | Individuals, Newsletter, Tax

When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount of tax on the couple’s combined income. That means the IRS can pursue either spouse to collect the entire tax, not just the part that’s attributed to one...
Tax Implications to Be Aware of After a Job Loss

Tax Implications to Be Aware of After a Job Loss

by Gabby Miller | Sep 5, 2023 | Individuals, Newsletter, Tax

Despite the generally robust job market, some people are still losing their jobs. If you’re laid off or terminated from employment, taxes are probably the last thing on your mind. However, you may face tax implications due to your changed personal and professional...
Buy-Sell agreements Require Careful Planning

Buy-Sell agreements Require Careful Planning

by Gabby Miller | Sep 1, 2023 | Business, Newsletter, Tax

Does your business have multiple owners? If so, you need a buy-sell agreement. This type of binding contract determines how (and at what price) ownership shares of a privately held business will change hands should an owner depart. There are also potential tax...
Minimizing Capital Gains Tax on Sale of a Home

Minimizing Capital Gains Tax on Sale of a Home

by Gabby Miller | Aug 4, 2023 | Individuals, Newsletter, Tax

If you’re looking to sell your home this year, then it may be time to take a closer look at the exclusion rules and cost basis of your home to reduce your taxable gain on the sale. The IRS home sale gain exclusion rule allows an exclusion of gain up to $250,000...
It’s Natural Disaster Season: Safeguarding Tax Records

It’s Natural Disaster Season: Safeguarding Tax Records

by Gabby Miller | Aug 3, 2023 | Individuals, Newsletter, Tax

With hurricane season in the East and South, wildfire season in the West, and severe weather season in the middle of the county, now is a good time to create or review emergency preparedness plans for surviving natural disasters. Here are three steps taxpayers can...
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Recent Posts

  • Tax Season Is Long Over, but Tax Scams Are Thriving
  • An “Innocent Spouse” May Be Able to Escape Tax Liability
  • Tax Implications to Be Aware of After a Job Loss
  • Buy-Sell agreements Require Careful Planning
  • Employee Retention Tax Credit (ERTC) Scams and Fraud

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