Thankfully it’s not too late to try and minimize your taxes for 2023. If you haven’t scheduled a tax planning session, now is a great time to do so. Here’s how a tax planning session can potentially help your situation: It can make a difference. This is especially true if you have a major event that…

Government data shows that record inflation from the last few years started to slow down throughout 2023, but much of the damage has already been done. Every bill we pay and purchase we make costs more now, from insurance to clothing, and groceries to household supplies. Here are some tips to spend less to help…

As 2023 winds down, here are some ideas to help you prepare for filing your upcoming tax return: Informational returns. Identify all vendors who require a 1099-MISC and a 1099-NEC. Obtain tax identification numbers (TINs) for each of these vendors if you have not already done so. Shifting income and expenses. Consider accelerating income, or deferring earnings,…

Thankfully it’s not too late to try and minimize your taxes for 2023. If you haven’t scheduled a tax planning session, now is a great time to do so. Here’s how a tax planning session can potentially help your situation: It can make a difference. This is especially true if you have a major event that…

Here’s how companies use information about you and what you can do to protect it One of the most valuable things you own is YOU. Your identity and related information includes the basics – where you live, your age, and your gender. But it also includes your interests, who you know, and what you buy….

Here are 5 great money ideas to help you get ahead or move into a better financial position.   Make savings automatic. Take steps to make your savings happen automatically. Setting up automatic transfers for a certain day of the month or payday can help you shore up regular savings before the money gets spent elsewhere….

Think twice about automatically paying the amount due on a notice Here are several quotes from actual IRS correspondence that serves as evidence that our national tax collection agency is not always right:   Thank you for your correspondence. We currently do not have a copy of the correspondence we sent to you regarding your…

Here’s a roundup of several recent tax court cases and what they mean for you. Blogging for Taxes (Thomas v. Commissioner of IRS, 160 T.C. No. 4) The innocent spouse relief rule allows one spouse to avoid paying taxes caused by the other spouse due to their actions on a joint return. The spouse seeking…

A silver lining to continued interest rate hikes by the Federal Reserve is being able to earn more interest on cash stashed in your savings accounts. How much interest, exactly, you can earn depends on where you do your banking. Consider these tips to earn as much interest as you can, even if it means…