by Admin | Mar 2, 2023 | Individual Taxes
If you are a divorced or separated parent, a commonly encountered but often misunderstood issue is who claims the child or children for tax purposes. This is sometimes a hotly disputed issue between parents; however, tax law includes some very specific but complicated...
by Admin | Feb 28, 2023 | Individual Taxes
Most of the common errors taxpayers make on their tax returns are easily avoidable. By carefully reviewing their return, taxpayers can save time and effort by not having to correct it later. Filing electronically also helps prevent mistakes. Tax software does the...
by Admin | Feb 25, 2023 | Individual Taxes, Tax Planning
A few minutes spent reviewing income tax withholding early in the year helps set a taxpayer up for success all year long. The Tax Withholding Estimator on IRS.gov makes it easy to figure out how much to withhold. This online tool helps employees withhold the correct...
by Admin | Feb 8, 2023 | Business Taxes, Individual Taxes
WASHINGTON — The Treasury Department and Internal Revenue Service today issued Notice 2023-13, which contains a proposed revenue procedure that would establish the Service Industry Tip Compliance Agreement (SITCA) program, a voluntary tip reporting program between the...
by Admin | Feb 7, 2023 | Individual Taxes
Individuals are always looking for tax deductions that can reduce their tax liability. But what is the actual tax benefit derived from a tax deduction? There is no straightforward answer because some deductions are “above the line”, others must be itemized, some must...
by Admin | Feb 2, 2023 | Entrepreneurial, Individual Taxes, Tax Planning
Individuals and small businesses should consider various ways of starting off on the right foot for the 2023 tax year. W-4 Updates – If you are employed, then your employer takes the information from your Internal Revenue Service (IRS) Form W-4 and applies it to the...
