Protect Yourself from Identity Theft and Fraud

Imagine this – you’ve given us all your documents early, we’ve prepped and processed your tax return, you’ve reviewed it and signed the eFile forms… then we call you and advise you that your tax return rejected eFiling because someone has already filed using your social security number! Sadly, this can happen if you become […]

If You Have Foreign Assets, FBAR May Apply to You

US Taxpayers (both individuals and business entities) are required to report on foreign assets or investments they hold in offshore accounts.  You may be required to eFile what is known as the FBAR directly with a special bureau of the Treasury Department.  As is often the case with tax laws, there are some exceptions to […]

Cut Your Tax Season Stress in Half

Make things easier on yourself with a few quick steps you can take now to help cut down on tax season stress.  Here are a few suggestions: Plan to organize early.  Set aside a folder to collect what you’ll need: W-2’s from your employer 1099’s for other income earned Bank and other financial statements Receipts […]

Don’t Forget to Get an Annual Checkup – On Your Credit

Identity theft and fraud are at an all-time high – you know it and we’ve told you about it.  We recommend that you check your credit reports at least once a year. Credit reports often have errors in them and this quick checkup can be the first indication that some form of identity theft or […]

Capital Gains 101

When you sell an asset or investment, your cost basis – the amount you originally paid for it – is subtracted from the sales price to determine your capital gain on the sale: Price Sold At – Cost Basis (Price Paid For) = Capital Gain Do you take this cost basis into account when it’s […]

If You Plan On Claiming That Charitable Deduction, Read This

Donating to charities you support is a very noble thing.  But, if you plan to take a tax deduction for your gift, you must have the proper paperwork.  Assembling the correct documentation can be tricky because the requirements vary based on whether the donation is cash and on the value of your gift.  For example, […]

A Little Planning Now – A Lot of Savings Later

“I have lots of time to prepare before tax season is here” – is that what you’re thinking? True, you don’t need to worry about your tax prep just yet. However, now is the perfect time to begin planning so you can take advantage of all the opportunities to minimize the taxes you will owe. […]

Keep Your Wallet Happy This Holiday Season

Don’t let the financial burden of this holiday season last until next summer! Use the steps below to help make the most of your holiday spending: Make a Budget – Set a realistic amount of how much you can spend this holiday season. Remember to include food, gifts, transportation, and clothing costs. Shop with a […]