Tag: Tax season (page 3 of 3)

Charitable Contributions

December 15, 2017 / / Comments Off on Charitable Contributions

This holiday season, if you’re in the spirit of giving, charitable contributions can be the gift that gives back!

Charitable contributions made to qualified organizations can help lower your tax bill. Record keeping of donations and contributions must be maintained no matter the amount. To properly back up your contributions please keep bank records, receipts, or payroll deductions reflecting the amount.

If you are receiving a benefit for your contribution, you can only deduct the amount that exceeds the fair market value (ex. gala tickets). Non-cash donations such as household items and clothing, must be in good used condition and valued at fair market price.

For more information, read these eight tips the IRS provides here!

 

 

How Divorce or Separation Effects your Taxes

August 26, 2016 / / Comments Off on How Divorce or Separation Effects your Taxes

If divorcing or recently divorced, there’s much to consider:

  • Name Changes
  • Spousal IRA
  • Child Support
  • Alimony (Paid and Received)

Through changes in circumstances, be prepared to pull out your check book and negotiate with your former spouse. There are many more challenges to finalizing the divorce.

For more information click here!

Phone Scams! The IRS Does NOT Call!

May 23, 2016 / / Comments Off on Phone Scams! The IRS Does NOT Call!

IRS CALL

A few of our clients have fallen victim to fraudulent phone calls received by scammers impersonating to be Tax Agents.

These callers are calling in attempt to steal your money. They will call with variations of IRS issues and even show up on the caller ID as the IRS. They will either claim that you’re due for a huge refund or you owe the IRS money. They threaten that legal actions are in place and demand immediate payment.

Don’t be fooled! If you receive a phone call, do NOT give out any information and hang up immediately. The IRS does not call, certified mail is the most common form of communication.

For more info, read what the IRS has to say below.

IRS: Phone Scams

 

Where’s my Refund??

April 5, 2016 / / Comments Off on Where’s my Refund??

When the IRS processes your tax return and approves your refund, you can see your actual personalized refund date. Even though the IRS issues most refunds in less than 21 days after we receive your tax return, it’s possible your tax return may require additional review and take longer.

Track your Refund Here!

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