A common statistic that’s thrown around is that it can cost five times as much to obtain a new customer as to retain an existing one. Even if the cost isn’t that high for your business, you likely know the value of keeping your customers. And that requires maintaining strong relationships with them. Automated communication […]

Sometimes, taxpayers must call the IRS about a tax matter. As part of the IRS’s ongoing efforts to keep taxpayer data secure from identity thieves, IRS phone assistors take great care to discuss personal information with the taxpayer or someone the taxpayer has authorized to speak on their behalf. Therefore, the IRS will ask taxpayers […]

May 1 is the traditional deadline for undergraduate students to commit to their college of choice, which means tuition payments are not far behind. If you are wondering if your child’s scholarships are taxable, here is what you should know. What Is a “Scholarship?” First, it’s important to understand how a scholarship is defined. Generally, […]

Hobby activities are a source of income for many taxpayers. As a reminder, this income must be reported on tax returns. But the reporting rules are different than for income from a for-profit business. For one thing, hobbyists can’t deduct their hobby expenses. A hobby is any activity that a person pursues because they enjoy […]