by Admin | Nov 10, 2022 | Individual Taxes
An Offer in Compromise can be an effective way individuals and businesses to settle federal tax debt. This federal program allows taxpayers to enter into an agreement, with the IRS, that settles a tax debt for less than the full amount owed. Sometimes taxpayers are...
by Admin | Nov 2, 2022 | Individual Taxes, Tax Planning
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by Admin | Oct 31, 2022 | Individual Taxes, Tax Planning
The Internal Revenue Service urged taxpayers to check their tax withholding while there’s time left in 2022 to benefit from any necessary changes. An adjustment made now will help people avoid a big surprise, such as a big refund or a balance due, at tax time in 2023....
by Admin | Oct 26, 2022 | Individual Taxes
November 10 – Report Tips to EmployerIf you are an employee who works for tips and received more than $20 in tips during October, you are required to report them to your employer on IRS Form 4070 no later than November 10. Your employer is required to withhold...
by Admin | Oct 25, 2022 | Individual Taxes, Retirement, Tax Planning
The Health Savings Account (HSA) is one of the most misunderstood and underused benefits in the Internal Revenue Code. Congress created HSAs as a way for individuals with high-deductible health plans (HDHPs) to save for medical expenses that are not covered by...
by Admin | Oct 20, 2022 | Individual Taxes
If your tax deductions normally fall short of itemizing your deductions or even if you are able to itemize, but only marginally, you may benefit from using the “bunching” strategy. The tax code allows most taxpayers to utilize the standard deduction or itemize their...
