by Admin | Jul 21, 2022 | Individual Taxes, Tax Planning
Despite recent rounds of forgiveness for thousands of borrowers, nearly 43 million Americans are responsible for roughly $1.6 trillion in federal student loans which results in a significant long-term burden for students after graduation. The average debt...
by Admin | Jul 14, 2022 | Individual Taxes, Tax Planning
Starting July 1, 2022, the state of Virginia now requires taxpayers to submit all of their income tax payments electronically if: Any estimated tax payment exceeds $1,500; orAny extension payment exceeds $1,500; orThe total anticipated income tax liability in any...
by Admin | Jul 14, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning, Tax Scams
All taxpayers have a set of fundamental rights they should be aware of when dealing with the IRS. Explore your rights and our obligations to protect them. The Right to Be InformedThe Right to Quality ServiceThe Right to Pay No More than the Correct Amount of TaxThe...
by Admin | Jul 5, 2022 | Individual Taxes, Retirement, Tax Planning
When was the last time you or your attorney reviewed or updated your will or trust? If it was some time ago before the passage of substantial tax law changes over the past few years, your documents may be out of date. Among the many changes was a substantial revision...
by Admin | Jul 1, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning
With gas prices soaring it has been expected the IRS would increase the mileage rate that business owners can deduct for vehicle use instead of keeping a record of actual expenses. Sure enough, the IRS recently announced a 4-cent increase in the optional mileage rate...
by Admin | Jun 30, 2022 | Individual Taxes
If you discover that you forgot something on your tax return, you can amend that return after it has been filed. The need to amend can include a number of issues: Receiving an unexpected or amended K-1 from a trust, estate, partnership, or S-corporation.Overlooking an...
