20 05, 2024

Tax Changes Coming At The End Of 2025

Unless Congress takes action, a number of temporary tax laws are going to expire at the end of 2025. This means you have this year and next to take advantage of the current rules. That doesn’t mean Congress won't extend the current laws, but why take the chance? Here are some of the larger

6 05, 2024

Ideas for a Great Refund

Three of every four Americans got a refund check last year according to IRS statistics. With a little planning, you can maximize the benefit of your refund. Here are some ideas: Pay off debt If you have debt, a great spending priority can be to reduce or eliminate it. This is especially true if

19 04, 2024

Tax Tips to Aid in Retiring Early

Wouldn’t it be nice to check out of the workforce early and not need to worry about having enough money for retirement? While good financial planning can help you get there, leveraging the tax code as part of your retirement plan is also a good idea. Here are some tax tips that could help

12 04, 2024

IRS Notices Creating Alarm – Here is what to know

Beginning In April a number of IRS notices began hitting mailboxes. Unfortunately, the notices are coming in cold, as the IRS is turning on mailing their notices after a long time of being turned off. Their process is creating a lot of undue alarm. Example: A small business, current in their tax payments, receives a

4 04, 2024

Keep Track of Home Improvements

One of the more popular provisions in the tax code is the $250,000 capital gain exclusion ($500,000 for a married couple) of any profit made when selling your home. As long as you follow the rules, most home sales transactions are not a taxable event. But what if the tax law changes? What if

4 03, 2024

iPhone Legacy Contact Security

If a user wants their iCloud data to be accessible to designated beneficiaries after their death, they can set up Legacy Contacts on their account. A Legacy Contact beneficiary gains access to all of the decedent’s iCloud data, including almost all end-to-end encrypted data but excluding iCloud Keychain data like account passwords. The technology

26 02, 2024

Criminals Impersonating Comptroller’s Office

The Texas Comptroller of Public Accounts is warning citizens that criminals are sending emails impersonating the agency’s Open Records Division, claiming citizens have committed a code violation. Do not click any links in these communications. To cause you to react and click on the link, these fraudulent emails use the subject line: Code Violation

21 02, 2024

Taxpayers Should Answer Crypto Question, Report Digital Asset Income

The IRS has issued a news release reminding taxpayers that they must answer the digital asset question and report all digital asset income when they file their 2023 federal income tax returns. ( IR 2024-18 , 1/22/2024) Digital asset question. Generally, the digital asset question for individuals reads: "At any time during 2023, did

13 12, 2023

Corporate Transparency Act — Beneficial Ownership Information Reporting

The Corporate Transparency Act (“CTA”) was enacted January 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy Act and related anti–money laundering rules since the U.S. Patriot Act. The CTA is intended to address and guard against money laundering, terrorism financing, and other forms of