Latest From the Blog
Tax Tip of the Week | No. 303 | Tax Scams Continue
Tax scams do not end with the tax season. The IRS phone scam continues to victimize taxpayers. Fraudsters make phone calls to taxpayers, pretending to be IRS agents, and inform them that they owe back taxes.
Tax Tip of the Week | No. 302 | Start Your 2015 Tax Planning Now!
Before you put your 2014 federal income tax return in the virtual or physical file drawer, check for items that can affect your 2015 planning. Here are three:
Tax Tip of the Week | No. 301 | 15 Ways To Spend A Refund
15 wise moves to make with your client's enormous tax refund: The average taxpayer refund for the 2014 filing season was $2,893, slightly higher than the amount recorded in the recent years. Tax refunds can be put into good use by paying down high-interest credit-card debt and making additional mortgage payments, according to Motley Fool.
Tax Tip of the Week | No. 298 | Thank You!
Aaaah……The week after tax season (and the first full weekend home in two and half months) is the best week in a tax accountant’s life!
Tax Tip of the Week | No. 297 | It Is Better to Extend vs. Not Filing on Time
If you haven’t filed your tax return by now, you should probably consider filing for an extension. It is a lot easier to file for an extension than it is to amend a return later for a mistake you made trying to rush your return to completion. Even more costly is if the IRS finds a mistake you made, they will assess underpayment penalties and interest.
Tax Tip of the Week | No. 296 | No More Double Dipping in Ohio
Beginning with the 2014 filing year, dependents will no longer be able to claim a personal exemption if another taxpayer claims them on their return.