Educating Business Owners about Tax Deductions.
The person on the phone is NOT from the IRS
At this time of the year, scammers gear up to attach in full force. When you answer your phone and someone says they are from the irs you should: Record the number and then hang up the phone immediately. Report the call to TIGTA using their IRS Impersonation Scam...
Can Feb 1st be our New Year do over?
I don't know about you but January 1st 2022 was a rocky day for us. My husband was very sick with COVID and the rest of us were freaked out that we were all going to get sick. Not an auspicious start to 2022! So yesterday I sat down in the sun and did some journaling....
File your tax return early?
The BIG question - Should I file my tax return now or wait a few weeks? Well, usually I would say filing early is the best idea, especially if you are due a refund. Based on my experience from last year though, perhaps it may be best to wait. Last March 2021, we...
What smart money choices did you make THIS WEEK?
I touch my money every week. Friday is my money day. I reflect on the choices from the week and I look ahead to next week. How much will I need for next week/ What do I have coming up? What choices will I make? This week I met a friend for lunch at an outdoor mall on...
Do I need to hire an Accountant to File my Taxes?
That depends...not everyone needs an accountant to help them file their taxes. If you are conservative by nature and want to file a clean tax return, pay what you owe timely, then using an online tax software like TaxCut or TaxPro is a perfect solution. I recommend...
Will taking a home office deduction get me audited?
This is a question I get asked at least once a week and the answer is a resounding NO. Taking a home office deduction to which you are entitled will not result in you getting flagged for audit. Back in 2000, the IRS did in fact use to do in person home office checks....
Direct from the desk of the IRS
Well we are about to embark on the 2021 income tax filing season. The IRS, as of late December, the IRS had backlogs of 6 million unprocessed original individual returns (Forms 1040), 2.3 million unprocessed amended individual returns (Forms 1040-X), and about 5...
The IRS is gathering data this year – do they want to be GOOGLE?
Have you seen the 2021 Personal income tax return format? I have. The IRS is gathering data. I think they now realize the power of information. The very first page of the Form 1040 which is your personal income tax return, has a question on it, right under your...
Welcome to a brand new year – no excuses!
Happy new year taxpayers and friends! Let 2022 be the year of no excuses. Let's not blame COVID, the supply chain or the great resignation for what goes wrong. Rather, let's take control, be pro-active and lead towards our goals with conviction. Who is with me? I...