Tax Updates
Video Resources to help you prepare for tax season
Tax Tips for Self EmployedRunning a business is complex and tax obligations are often one of the root causes. Here are some tips.
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Taxes & Virtual CurrencyThe IRS is placing a microscope into the virtual currency world. And they will now know what you are doing. Be prepared.
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The 1099-K NightmareUse Venmo? Expect a tax form. Sell tickets online? Expect a tax form. Ebay, Amazon...More tax forms. Here is what you need to know about the 1099 Ks you will be seeing this year.
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Fixing Errors on 1099sIdentifying errors and getting them fixed is one of the best ways to avoid stressful audits. Here is how to go about doing it.
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Top 5 Reasons to File EarlyToo often you receive a call from a client who needs you to drop everything to file an early tax return. This video can help get ahead of that problem.
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Tax Gems Everyone Should KnowWow! This is tax stuff everyone should know, but rarely thinks about. And often the start of lowering tax is knowing these tidbits, so you can manage your experience with the taxes you pay.
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Identifying Tax ScamsWith a good understanding of tips to avoid scams, your risk of being a victim can be greatly reduced. This video is one that should be reviewed repeatedly!
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2022 Business Tax highlightsMore 1099s reporting your activity to the IRS and other law changes make this video a must view for you and your business.
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Not Everything is TaxedNot everything is taxed by the IRS. Here are a number of examples that everyone should know. By being aware of non-taxable income or pre-tax spending you can better manage your tax bill.
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Tips for Reviewing your tax returnLooking through a tax return can be a daunting process. Here is a simple process to help you confirm the information and identify areas of possible error or need of clarification.
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2022 Individual tax HighlightsThe worst time to know about new tax laws is when it is too late to do anything about it. Here is a summary of the most impactful changes this year as we know them in early 2022.
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Five Yearly Tax EssentialsTax surprises not only cost money, but also can create unwanted delays in filing your tax return and obtaining a refund. Here are five topics that taxpayers should review EACH and every year.
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New Retirement RulesDeep within a government spending bill are a number of changes to popular retirement plan rules. Here is what every taxpayer should know.
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Understanding the Kiddie TaxUnderstanding the Kiddie Tax can save you thousands, but can also lead to unpleasant tax surprises. Here is what you need to know.
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Debt Collection: Know Your RightsWhen you receive a threat to collect a debt, what can you do? The first place to start is to know your rights. Here are the basics.
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2021 Business Tax HighlightsThe pandemic continues to influence your business tax life, are you capturing all the breaks and changes? Here are highlights for what's new in 2021.
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Tax Terms: Unearned incomeYour unearned income is ripe for overpaying income tax. But not if you understand what to look for and ask questions.
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Tips to Organize your tax recordsHere are some simple tips to help make preparing your tax return less of a chore. And if you do nothing else... follow this one tip.
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Secrets to Maximize Social Security Want a larger monthly check from Social Security? Here's how.
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Understanding Head of Household Rules A common taxpayer mistake is not understanding the Head of Household filing status. Finally, there is a brief summary available. Not to be an expert, but simply to know if and when it applies to you!
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Understanding Depreciation RecaptureWhen you sell rental property, business property or anything that is depreciated, it could create a surprising tax bill. Your best defense is a clear understanding of how this tax works.
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Expansion of Child Tax CreditIn 2021 a newly expanded Child Tax Credit will impact millions of families. Unfortunately, the rules are anything but simple. Spend a couple of minutes to understand what, exactly is changing.
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2021 Individual Tax HighlightsThe worst time to know about new tax laws is when it is too late to do anything about it. Here is a summary of the most impactful changes this year.
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Should You Delay Your Social Security?From age 62 to 70, you can start taking your Social Security retirement benefit. Is a delay in your start date a good idea? Here are things to consider.
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is your paycheck a tax time bomb?An executive order allows employers to stop withholding employee Social Security through the end of 2020. But as it stands, employees must pay it back in early 2021. Clients need to check their paycheck!
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This simple idea can save thousandsIf you could save thousands during your retirement by knowing a simple concept today, would you listen? Most would. Here is an idea, that once understood can make a real difference.
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Understanding the 1099-NECBeginning in 2020, non-employee compensation must now be reported on 1099-NEC. While the 1099-MISC does not go away, using the wrong form is going to cause problems. This video can help clarify the inevitable confusion.
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Tax Terms: ContemporaneousThis tax term has created much pain. Too many taxpayers lose tax deductions by not understanding this IRS concept. Here is what you need to know!
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4 Common Tax SurprisesNo one likes a big tax bill. Sometimes they cannot be avoided, but sometimes they can–if you know about them ahead of time! Here are 4 of the most common tax surprises you need to know.
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Tax Terms: Marginal Tax RateDo you know what your marginal Tax rate is? Learn what it is and how to use it to your advantage.
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Tax-Free Rental PropertyVirtually everyone can rent tax-free! Learn more in this quick video, and if you have any questions, contact me!
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Tax Terms: Effective Tax RateEffective Tax Rate: How much you REALLY pay!
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Tax Credit Vs DeductionDeduction or Credit? Take the confusion out!
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The IRS Loves BusinessesWonder what the IRS is paying attention to when it looks at small businesses? Here are five key areas requiring defense when the IRS turns its focus on your business.
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Five Yearly Tax EssentialsTax surprises not only cost money, but also can create unwanted delays in filing your tax return and obtaining a refund. Here are five topics that taxpayers should review EACH and every year.
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THE NEW CHILD TAX CREDITIf you have young children, this video is for you! Learn how the recent changes to the Child Tax Credit will affect you.
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THE NEW WORLD OF DEDUCTIONS:
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THE TAX CUTS & JOBS ACT: WHAT YOU NEED TO DO NOW!Feeling confused about what to do when confronting the new tax laws? Here's a great place to start!
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HOW LONG SHOULD I SAVE IT?How long do I keep this? This video describes the Federal record keeping guidelines.
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PROVING YOUR DEDUCTIONSHow do you support your deductions if challenged?
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MAKE THE MOST OF YOUR DONATIONSDonating can really reduce your tax obligation, but only if you know the rules.
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IDEAS TO AUDIT-PROOF YOUR TAX RETURNSometimes the best defense in an audit is knowing how to prepare.
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FIVE GREAT TAX SECRETSDon't overlook tax deductions. Here are five things everyone should know.
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