New Senior Tax Benefit The latest tax law changes affected those age 65 or greater. Here are the requirements to gain up to an extra $6,000 tax deduction: Who is eligible for the deduction? To [...]
I no longer provide individual consulting services but this is a service that every small business owner or investor must consider at some point in their journey. I have worked with Anderson Business Advisors and [...]
The IRS has recently updated its checklist with respect to the Employee Retention Tax Credit. This is a nice publication explaining eligibility requirements with respect to the credit. p5887
The IRS has released guidance on conservation easements and has provided specific language to use in any contracts or deeds relating to these easements. The safe harbor in IRS Notice 2023-30 involves extinguishment and boundary [...]
The Internal Revenue Service is showing a bit of kindness and compassion to all of us taxpayers by giving us more time to file tax refund claims for tax returns we filed earlier in the [...]
According to a report from Syracuse University, the IRS managed to actually audit 7,710 "millionaires" in 2022, down from 40,965 just a decade ago. If you claimed the earned income tax credit (for lower-income taxpayers), [...]
The IRS released information in Notice 2022-36 that permits taxpayers to have the failure-to-file penalties removed from their returns for 2019 and 2020. This penalty relief (and subsequent refunds) will be automatic, according to the [...]
There are many tax breaks that come with real estate investing. There may be tax deductions available when you make the purchase, when you own and operate it as a rental and when you wish [...]
Please click below to obtain your free copy of: The Ultimate Solo 401(k) Tax Guide: Tax Strategies and Tips to Maximize the Plan’s Assets 401(k)
Here is a link to a recent webinar that I did with Garnaco Inc. In it I discuss some of the tax strategies associated with retirement plans that you can implement today. Save for retirement [...]
