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Common Tax Mistakes When Selling a Home

With home sales booming throughout much of the country, you may decide that now’s the right time to put your abode on the market. If you do put your primary residence up for sale, try to steer clear of the following mistakes. Not qualifying for the home sale exclusion. If you’ve owned and used your home […]

Small Business IRS Audit Mistakes

In late 2020, the IRS announced that it will increase tax audits of small businesses by 50 percent in 2021. Here are several mistakes to avoid if you do get audited by Uncle Sam. Mistake: Missing income. A long history of investigating has led IRS auditors to focus on under-reported income. If you’re a business that handles […]

Good Debt Versus Bad Debt

How to tell the difference Not all debt is created equal. Knowing the difference can change the way you look at your spending. Good debt adds value Good debt often leads to financial growth, because the product or service being purchased adds more value than the debt that comes with it. Student loans are usually […]

Ideas to Lower Your 2021 Tax Bill

Now is the time to begin tax planning for your 2021 return. Here are some ideas: Contribute to retirement accounts. Tally up all your 2021 contributions to retirement accounts so far, and estimate how much more you can stash away between now and December 31. So, consider investing in an IRA or increase your contributions to […]

Small Business Owners Get Good News on PPP Loan Forgiveness

Small business owners, self-employed workers and freelancers received some welcome news when Congress recently passed the Paycheck Protection Flexibility Act. This new law clarifies how businesses can qualify to have all or a portion of its Paycheck Protection Program (PPP) loan forgiven. Here is what you need to know: December 31, 2020 is the new […]

Help! My Stimulus Payment is Wrong or Missing!

Millions of Americans already received their economic impact payment. But what if you’re still waiting or your payment was for an incorrect amount? Here are some common scenarios why you may not have received your payment, or the payment you did receive was for an incorrect amount, and what you can do. Your payment was […]

IMPORTANT! You May Owe a Tax Payment This Month

Find out if you owe the IRS an estimated tax payment You may owe the IRS a tax payment for your 2020 tax return and not know it. Most Americans have income taxes withheld from their paychecks, with their employer sending a tax payment to the IRS on their behalf. This year, however, many more […]

Make Setting Salaries Easier With These 5 Steps

  Whether you are hiring for the first time, filling an open position, or conducting annual performance reviews, finding a salary range that attracts and retains valued employees can be a difficult task. Here are some suggestions to help make the process a bit easier for you and your company: Know what your business can […]

What You Need To Know About IRS Audits

The IRS recently released its 2018 Data Book, including information on its audit activities for the last fiscal year. This infographic details what you need to know regarding your audit risk, how to prepare for and what to expect in an IRS audit.  

Can’t Miss Stops for Your Summer Road Trip

School is out, the weather is warm, and it’s time to head out on a summer road trip! Tired of the same old locations? Every state has a number of unique destinations for the everyday explorer. Here are some free ideas for the creative vacation seeker in all of us: The World’s Largest Yard Sale. Stretching […]