Looking for Tax Preparation Help? Crush your taxes with a Dave Ramsey Tax Advisor. Feel confident that your taxes are done right. 816-220-2001 Learn more... http://ow.ly/x4wX50xoMvy
When does a tax benefit not become a tax benefit? When you assume you no longer need to keep track of something. This is the case with the home gain exclusion.
TIPS.RESOURCESFORCLIENTS.COM
The Lost Art of Tracking Home Improvements - How a tax law makes us sloppy and creates a tax risk
Health-care coverage (including Medicare) typically does not cover extended medical care. #Medicare
AFITONLINE.COM
Money that Buys Good Health is Never Ill Spent
Donating (and receiving) cryptocurrency can be a challenge for donors and charities. These tips should help steer both parties in the right direction.
FORBES.COM
Accept Virtual Currency Donations? Yes, Charities. You Can!
Just two weeks left until extended 2019 tax returns are due. Time to get moving!
Oops! You find an error or omission on last year's tax return. What should you do? Is it always a good idea to file an amended tax return? Here are some things to consider.
TIPS.RESOURCESFORCLIENTS.COM
To Amend or Not Amend? - Is it always a good idea to amend your tax return if you find an error?
Keeping personal and business separate is extremely important for your taxes. While there is some room for dual purpose expenses, far-reaching claims are easy pickings for IRS auditors.
What do Americans spend more on? 1) taxes or 2) food, clothing, and shelter? Answer = 1. #IncomeTax
AFITONLINE.COM
What Do Your Taxes Pay For?
New 5.0-star Review: "Mike and his team have taken great care of us and will always steer you in the right direction. They are always on top of the ever changing world of taxes."
"Hope someone can use some of these baseballs in the batting cages. I found them cleaning my garage. I pitched them to my son and grandson for countless rounds. My son is now 46 y/o and my grandson is 23 y/o. I am 72 and what I won't give to pitch a couple of buckets to them. They have both moved away. If you are a father cherish these times. You won't believe how quickly they will be gone.
God bless
P.S. Give them a hug and tell them you love them every chance you get."
MSN.COM
This grandpa’s note on a bucket of baseballs will touch your heart
If you're looking at college costs for next year, here are a few handy tips to help you collect the tax info you'll need to apply for financial aid.
DONTMESSWITHTAXES.COM
Getting the tax info needed to complete FAFSA
Learn more about whether you need to pay estimated taxes.
AFITONLINE.COM
You May Need to Make Estimated Tax Payments If…
There is a new category of tax returns that the IRS will be heavily scrutinizing: cryptocurrency.
The IRS has made an important change to 2020 tax forms to identify this type of financial exchange.
In 2019, the virtual currency question was only found on Schedule 1: Additional Income and Adjustments to Income, which meant that regular W-2 filers with no other business or rental income or income adjustments would not have to answer this question.
But ... in 2020, the IRS has moved the question to the front of the Form 1040. That means everyone will need to answer this question:
"At any time during 2020, did you receive, sell, send, exchange or otherwise acquire any financial interest in any virtual currency?"
The IRS is getting smart about the ways that people are avoiding them. So: answer that question properly, or you could be found guilty of perjury.
Looking to plan ahead? Here are initial figures from the IRS regarding the upcoming, 2021 tax year.
TIPS.RESOURCESFORCLIENTS.COM
IRS Releases Key 2021 Tax Information
These 6 things might make your next return a prime target for an IRS audit. #taxes #IRS #audit
AFITONLINE.COM
Red Flags for Tax Auditors
Schedule a time to have us prepare your taxes today. https://www.afitonline.com/appointments
Depending on how you handle your 2020 taxes, you'll end up in one of two groups:
1) Sitting on top of a mountain of tax benefits that are available to those who use them effectively, or
2) Crying at the bottom of a pit of missed tax opportunities that could have eased the financial strain of 2020.
We're here to help YOU process tax season. No matter what happened during the donkey that was "2020" ... we're going to ensure that your taxes are as locked tight, cost-efficient and SAVINGS-OPTIMIZED for you as legally and ethically possible.
Rachel Cruze
16 hrs ·
It’s NOT a good thing to get a tax refund! 🙅♀️ That means the government held on to YOUR money for a whole year, interest free - instead of letting your money work for you during that time!
If you aren’t sure the best way to file your 2020 taxes (because it really was a crazy year for all of us!), take our free tax quiz: https://bit.ly/36zTY2k
If you know you're going to owe the IRS this year an amount that you can't pay...
You should still file your tax return. If you don't, you'll get hit with a failure to file penalty (plus interest) and have to pay them even more.
DAVERAMSEY.COM
Biden's Proposal for a Third Stimulus Check
Dave Ramsey
February 3 at 10:07 AM ·
Here's what we know...
Dave Ramsey
February 3 at 10:07 AM ·
Here's what we know...
The IRS only has 10 years to collect your unpaid tax debt.
After 10 years expires, the IRS must, by law, put a credit on your account for the amount that cannot be collected, and move your account balance to zero. The time to collect begins when the IRS first puts a balance due on its books, and ends 10 years later. The end is known as the "IRS collection statute expiration date".
By law, owing the IRS is not forever.
And, of course, with our help, it's much, much less.
