Blog

As hard as it may be to imagine right now, one day your kids will be making financial decisions of their own. So it’s important to train them to be responsible with the resources they have and learn how to manage their money now. If you have a some digital...

Several important loopholes for maximizing retirement income appear to be making their way onto the chopping block of future congressional legislation. These tax-saving and retirement income maximizing strategies involve both saving towards and funding retirement....

Identity theft refund fraud have been a growing concern for the IRS and tax professionals for years now. When income tax refunds are falsely claimed, it causes major disruptions in the tax preparation process for the individual victims of the fraud.  In an effort...

When it comes to federal agencies, the IRS has a stigma that makes the NSA look like good people. As with anything that inspires dread, the reality is often less fearsome than the perception. Forbes recently called out five of the top fears people have in...

Apparently Doreen Hendrickson, married to the author Cracking the Code: The Fascinating Truth About Taxation in America, Peter Hendrickson, was a fan of her husband's anti-tax theories. According to The Journal of Accountancy, she was...

How do you define prosperity? In the past, as far back as the economic theory of John Locke, wealth was measured by land ownership. The term “real estate” came into use because land was regarded as more valuable than merchant estates, which consisted...

If you have an audit-phobia, there’s good news for you: data shows that the IRS budget cuts have resulted in significantly fewer audits for most taxpayers. (In fact, the average taxpayer’s chances of being audited have fallen 23% over the last...

There’s no sense in paying more taxes than you need to. And you certainly shouldn’t be paying penalties. A good tax professional can help you avoid both of these situations, but we can also recommend Forbes’ advice to develop these 9 habits...

The IRS wants the public to know they aren’t trying to discriminate or prevent non-profits from getting tax-exempt status. The backlog of applications is due to limited resources. And in an effort to fast-track the applications and tame the negative rhetoric,...

You can’t get out of paying your taxes, but if you have a good reason why you paid late or made a mistake, you may be able to avoid penalties. "My dog ate my tax return" won't cut it, but here are a few reasons the IRS respects, via Forbes.  “My...

If you win the lottery, it’s kind of a bummer to have to pay taxes on your winnings, right? Well, TaxProf reports that some gamblers have gotten creative to avoid it.  Because they treat their activities as a business, gamblers deduct the cost of...

This year’s tax season is on the books! We’ve still got a few extensions out there, but the worst is over, and we’re thankful for another great season with our clients. We recently came across a funny article categorizing the 8 worst...