Our Blog

IRS Gives Tax Relief to Victims of Hurricane Irma; Extension Filers Have Until Jan. 31 to File

Wes Neuman

September 12, 2017

IRS Gives Tax Relief to Victims of Hurricane Irma; Like Harvey, Extension Filers Have Until Jan. 31 to File; Additional Relief Planned

This article is republished from the Internal Revenue Service, Issue Number IR-2017-150.


WASHINGTON –– Hurricane Irma victims in parts of Florida and elsewhere have until Jan. 31, 2018, to...

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Tax Breaks for the Military

Wes Neuman

August 11, 2016

If you are in the U. S. Armed Forces, then there are special tax breaks for you. For example, some types of pay are not taxable. Certain rules apply to deductions or credits that you may be able to claim that can lower your tax. In some cases, you may get more time to file your tax return. You may also get more time to pay your income tax. Here are some tips to keep in...

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How Identity Theft Can Affect Your Taxes

Wes Neuman

August 9, 2016

Tax-related identity theft normally occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund. Many people first find out about it when they do their taxes. If you think you may be a victim of identity theft, contact us immediately! 

Here are among the ways the IRS works to prevent identity...

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Back to School? Here's a study guide for education tax credits!

Wes Neuman

August 4, 2016

If you pay for college in 2016, then you may receive some tax savings on your federal tax return, even if you’re studying outside of the country! Both the American Opportunity Tax Credit and the

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Check Your Tax Withholding this Summer to Prevent a Tax-Time Surprise

Wes Neuman

August 2, 2016

Each year, many people get a larger refund than they expect. Some find they owe a lot more tax than they thought they would.

If this has happened to you, review your situation to prevent a tax surprise. Did you get married? Have a child? Have a change in income? Major life events can have a huge impact on your taxes. Bring the taxes you pay closer to the amount you owe. Here are...

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This Summer, Remember to Apply the Child and Dependent Care Credit!

Wes Neuman

July 19, 2016

Day camps are common during the summer months. Many parents enroll their children in a day camp or pay for day care so they can work or look for work. If this applies to you, your costs may qualify for a federal tax credit. Here are 10 things to know about the Child and Dependent Care Credit:

  1. Care for Qualifying Persons.  Your expenses must be for the care...

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Owe Taxes? These Tips Can Help

Wes Neuman

July 14, 2016

The IRS actually offers many ways to pay your taxes, and we can help you take care of everything from start to finish! Here are some tips if you owe taxes to the IRS:

  • Mailed tax bills. The IRS sends its bills to you via the U.S. Postal Service. Try to pay soon and in full to avoid any extra charges. If you can’t pay in full, you’ll save if...

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Summer Weddings Mean Tax Changes

Wes Neuman

July 13, 2016

Taxes may not be high on your summer wedding plan checklist. But you should be aware of the tax issues that come along with marriage. Here are some basic tips that can help keep those issues to a minimum. 

  • Name change.  The names and Social Security numbers on your tax return must match your Social Security Administration records. If you change your...

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Brexit, stage left

Wes Neuman

July 5, 2016

This blog post is designed to be an easy-to-understand guide now that the UK has voted to leave the European Union. It has been adapted from the BBC.

What happened? 

On June 23rd, a referendum - a vote in which nearly everyone of voting age can take part - was held by the United Kingdom (the UK) to decide whether it should leave or remain in the...

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Filing an Amended Tax Return

Wes Neuman

June 29, 2016

What should you do if you already filed your federal tax return and then discover a mistake? First of all, don't worry!

In most cases, all you have to do is file an amended tax return. But before you do that, here is what you should be aware of when filing an amended tax return.

Taxpayers should use Form 1040X, Read More...

E-file PIN program shut down in response to cyberattacks

IRS

June 24, 2016

As a precautionary step to protect taxpayers, the Internal Revenue Service has announced that the electronic filing PIN tool  is no longer available on IRS.gov or by toll-free phone following additional questionable activity.

The e-File PIN serves as an alternative signature verification method on the Form 1040 series and helps assist with electronic filing of...

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Tips for Taxpayers with Foreign Income

Wes Neuman

June 23, 2016

If you are living or working outside the United States, you generally must file and pay your tax in the same way as people living in the U.S. This includes people with dual citizenship.

In addition, U.S. taxpayers with foreign accounts exceeding certain thresholds may be required to file Form 114, known as the "FBAR" as well as Form 8938, also referred to as "FATCA."

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Smart Strategies to Handle the “Downfall” Problem 1 in 4 New Businesses Experience

Wes Neuman

June 21, 2016

One of the most (if not the most) important indicators of business health is its cash flow.

Even if your business is profitable and growing, if you don't have a consistent stream of cash coming in, you'll run into financial trouble. Lack of cash flow is the primary reason that more than one quarter of new businesses fail—29 percent to be exact. Here are some smart strategies...

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Visa® is now the only major credit card accepted at Costco warehouses

Wes Neuman

June 20, 2016

As of today, June 20, 2016, Costco has begun accepting all Visa credit cards both in the warehouse and at Costco gas stations in the U.S. and Puerto Rico.

American Express® Cards will no longer be accepted by Costco. The following payment types are accepted at Costco's U.S. warehouse locations: 

  • all Visa®cards, including the new Costco...

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Don’t Forget to Report Certain Foreign Accounts to Treasury by the June 30 Deadline

IRS

June 17, 2016

WASHINGTON — The Internal Revenue Service today reminded taxpayers who have one or more bank or financial accounts located outside the United States, or signature authority over such accounts that they may need to file an FBAR by Thursday, June 30.

By law, many U.S. taxpayers with foreign accounts exceeding certain thresholds must file Form 114, Report of Foreign Bank and...

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IRS Warns Consumers of Possible Scams Relating to Orlando Mass Shooting

IRS

June 17, 2016

WASHINGTON ― The Internal Revenue Service today issued a consumer alert about possible fake charity scams emerging due to last weekend’s mass shooting in Orlando, Fla., and encouraged taxpayers to seek out recognized charitable groups.

When making donations to assist victims of last weekend’s terrible tragedy, there are simple steps taxpayers can take to ensure their...

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IRS Fights Scammers – Instructs Staff to Initiate All Future Audits by Mail; Never by Telephone

Wes Neuman

June 10, 2016

With a rise in IRS phone scams, the Agency changed its policy on contacting taxpayers whose tax records are subject to an audit. The new policy instructs IRS agents to contact affected taxpayers only by mail—never by phone (which used to be the IRS’ go-to method of contact). As such, we urge all of our clients to adhere to the following guidelines should you receive a call from...

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No Time to Garden? Try These Time-Saving Tips

Wes Neuman

June 1, 2016

While many of us appreciate the glory of a beautiful garden, there’s no denying that having one is a time-consuming endeavor. That’s why we’ve compiled these tips to help you make the most of your yard in less time:

1. Start with a plan.
A well-thought-out plan for your garden that utilizes low-maintenance plants and flowers will save you time...

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Overtime Pay Eligibility Expanded – What Businesses Need to Know

Wes Neuman

May 20, 2016

President Obama, declaring that “Americans have spent too long working more and getting less in return,” ordered the Labor Department to revise federal rules on overtime pay for salaried workers that log more than 40 hours a week. The long-awaited rule change will extend overtime pay to an estimated 4.2M workers.

Under current federal regulations, only salaried employees...

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Sleep on This! Think Quality Not Quantity When It Comes to Shut-Eye

Wes Neuman

May 16, 2016

We’ve likely all heard the news—Americans are incredibly sleep-deprived. However, according to recent research, achieving better quality sleep may be more important than actually increasing the number of hours of sleep. In fact, experts report that 6 hours of deep refreshing sleep is more beneficial than 8 hours of light interrupted sleep.

May is Better Sleep Month, so...

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Be $1,000 Richer by Next Year with These Simple Savings Strategies

Wes Neuman

May 2, 2016

Wow! May is already here—and if you’re like many Americans your savings account balance is still stuck where it was at the beginning of the year. So what to do? You can’t make up for lost savings opportunities…or can you? We believe that you can with a little bit of discipline. For example, saving $125 a month can be as easy as:

  • Renegotiating your...

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5 Actions to Reduce Cyber Liability Risks in Your Business Today

Wes Neuman

April 14, 2016

A quick glance at the news is all it takes to realize that the threat of cyber attacks is increasing for businesses. So how can your business beat the odds and avoid becoming another victim of cybercrime? Try putting the following five action items at the top of your priority list:

  1. Encrypt your data. Whether it's bank routing digits, credit card accounts or...

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Final Check – Did You Claim Every Eligible Tax Deduction?

Wes Neuman

March 31, 2016

Every year, American taxpayers leave millions of dollars on the table for Uncle Sam—in the form of unclaimed tax deductions. With Tax Day just around the corner, it’s time to do one final check to make sure that you are not missing out on three of the most common deductions:

  • Retirement contribution deductions for single-income couples and the...

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Five Snacks to Spring Clean your Body and Mind

Wes Neuman

March 15, 2016

Spring is here and the season for new beginnings. This is a good time to re-think "spring cleaning" and choose snacks that can cleanse our bodies from the inside out.

These five snacks are guaranteed to feed your mind, detoxify your body, and satisfy your palate!

  1. Guacamole - High in fiber and “fat” but don’t worry, it’s good fat!...

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Tax Season is Scam Season... Keep Your Information Safe!

Wes Neuman

February 16, 2016

The IRS has joined with industry and states on a public awareness campaign to provide taxpayers with easy tips to better protect themselves. For some quick tips, you can watch an informative video here.

Tax-related identity theft occurs when someone uses your stolen Social Security Number to file a tax return...

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