Special Tax Rules for Children With Investment Income
Apr 7, 2023 | Tax Tips
Special tax rules may apply to some children who received investment income in 2022 or expect to receive it in 2023. Investment income generally includes interest, dividends, and capital gains. It also includes other unearned income, such as taxable scholarships or...There’s Still Time To Make an IRA Contribution for 2022
Mar 6, 2023 | Tax Tips
If you haven’t contributed funds to an Individual Retirement Account (IRA) for tax year 2022 or put in less than the maximum allowed, you still have time to do so. You can contribute to either a traditional or Roth IRA until the April 18, 2023, due date, not...State Payments Excluded From 2022 Federal Returns
Mar 6, 2023 | Tax Tips
Taxpayers in 21 states received special payments related to general welfare and disaster relief in 2022. However, according to recently issued guidance from the IRS, they will not need to report these payments on their 2022 federal tax returns. The special tax refunds...New Online Option for Certain IRS Notices
Mar 6, 2023 | Tax Tips
Taxpayers who receive certain notices requiring them to send information to the IRS can now submit their documentation online through IRS.gov. This new secure step will allow taxpayers or their tax professionals to upload documents electronically rather than mailing...Small Business: Rent Expenses May Be Tax-deductible
Mar 6, 2023 | Tax Tips
If you’re a small business owner just starting out, you may not realize that some rent expenses may be deductible on your tax return. Here are some things small business owners should keep in mind when it comes to deducting rental expenses: How Rent is Defined...Tax Due Dates for
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