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Tax Articles

These articles come from our Tax Classes. We believe that most people don't have the confidence to take all of the deductions that are available to them, leaving hard-earned money on the table. Whether you are an individual, business or organization, our tax articles and classes help give you the information that you need to be confident when doing and planning your taxes.

Business Deductions - Seven Tax-Cut Tricks There’s still time to minimize your most significant expenses – taxes – for this year and those that follow! Posted Dec 18, 2023
Two Wealth-Building Tax-Cut Strategies for Kids and Grandkids One of the easiest ways to create generational wealth and avoid taxation is to invest in a child’s education and future. Here's why and how you can do it! Posted Dec 18, 2023
WV’s New Property Tax Credit/Rebate TL;DR Do NOT Pay the Second Half of Your 2023 West Virginia Personal Property Tax Bill Until Early 2024 Posted Jul 28, 2023
Retirement Taxation Deferred vs. Non-Deferred vs. the ROTH A review of the tax implications of three popular retirement-saving options. Posted Jun 02, 2023
April 15th: Media Hype & The Audit Myth Learn how the media has utilized the tax "deadline" as an eyeball-catching, fear-arousing, space & time-filling, ad-selling tool. Posted Apr 17, 2023
Why is April 15th the Extension-Filing Deadline? A brief history of Form 1040’s due date Posted Apr 06, 2023
The Necessity & Benefit of Filing a Tax Return Extension In this article we discuss a few attributes that endear the tax filing extension to filers and professionals alike. Posted Mar 27, 2023
A Brief History of the Earned Income Tax Credit Everything you've ever wanted to know about the EITC but were too afraid to ask! Posted Feb 22, 2023
The 1099 Headache (Confusion, Frustration & Punishment ) Everything you ever wanted to know about the importance of filing Forms 1099 and the roadblocks the IRS -places in one's way. Posted Feb 07, 2023
Energy Credits for 2022, 2023 & Beyond An overview (and likely everything you ever wanted to know) of 2022 & 2023’s energy credits for individuals and families. Posted Dec 12, 2022
Notable Tax Changes for 2022 The list of significant tax changes impacting your 2022 tax return, especially compared to 2021 Posted Nov 30, 2022
How Congress is Killing the Tax Profession Growing complexity, the changing purpose of Form 1040, the tax practitioner’s role in fraud avoidance, and America’s evolving financial landscape have made the April 15th tax deadline obsolete. Posted Aug 10, 2022
2022 Notable Individual Tax Changes Our job is to inform you of tax changes that may impact your financial picture. To this end, We’ve compiled a brief list of changes that may affect your 2022 taxes. Posted Jul 25, 2022
Coping with April 15th Stress Disorder In this article, I will discuss the symptoms and prevalence of April 15th Stress Disorder and how it endangers the tax profession when expertise is most needed. Posted Jul 07, 2022
The Earned Income Tax Credit - History & 2021 Changes This article will focus on changes to the Earned Income Tax Credit. Posted Jan 11, 2022
The American Rescue Plan & The 2021 Child Tax Credit Mess In this article I’ll highlight some changes sure to impact most 2021 returns. Then, I’ll dig into the details of the 2021 Child Tax Credit. Posted Dec 10, 2021
Your Second ($600) Stimulus Payment This article answers some common questions regarding these stimulus payments. Posted Jan 06, 2021
Introducing IRS’s New Form 1099-NEC, Nonemployee Compensation What’s is Form 1099-NEC? A brief explanation of this new (not new) form. Posted Aug 05, 2020
State Form 1099-NEC & Form 1099-MISC Filing Requirements A quick summary of state requirements for Form 1099-MISC & 1099-NEC. Posted Aug 05, 2020
I’m a Real Estate Agent, Do I Qualify for the 20% Income Deduction? The vast majority of self-employed real estate agents will qualify for the 20% Income Deduction! Here's how. Posted Jun 14, 2020
IRS Announces That Forgiven Payroll Protection Loans are Back-Door Taxable Many business owners are wondering if taking a PPL made good business sense. Posted May 01, 2020
Helping the Homeless Receive Economic Impact Payments This article will discuss how to get CARES Act funds to many who desperately need them but are unable to obtain them on their own: The homeless. Posted Apr 20, 2020
CARES Economic Impact Payments, Many May Have to Wait This article will discuss why many of the Coronavirus Aid, Relief, and Economic Security Act (CARES) payments will take much longer to disburse than intended. Posted Apr 09, 2020
2019 Year-End Business Tips & Reminders The new year is almost here, get your ducks in a row now with our VERY THOROUGH Year-End Business Newsletter. Posted Dec 23, 2019
Qualified Residence Indebtedness Exclusion Retroactively Extended for 2017, 2018, and 2019 This article will discuss the challenge faced by those who owe more debt on a home than the home is worth and an overview of remedies to avoid taxes on that debt. Posted Dec 23, 2019
Contractor or Employee? A Confusing & Dangerous Question The way you classify workers can have a significant impact on the bottom line of your business. Employee? Independent Contractor? Find out now. Posted May 14, 2019
I’m Self-Employed. Can I Deduct My Spouses Health Insurance Premiums? When it comes to deducting a spouse’s health insurance via the self-employed health insurance deduction, enough loose interpretation exists to confuse professionals & taxpayers alike. Posted Jan 29, 2019
2018: Major Business Tax Changes Big changes in the TCJA! Here are the changes that are impacting businesses and business owners. Posted Dec 18, 2018
What are Statutory Nonemployees? Are you an employee? Indepent contractor? The answer to this question has a major impact on your bottom line! Posted Dec 03, 2018
2018 Tax Changes for Individuals & Planning Tips Our guide to the tax law changes that will impact most taxpayers in 2018 (and beyond)! Posted Nov 28, 2018
Will My Service Business Qualify for the 20% Income Deduction? I own a small business, do I qualify for the 20% income deduction? Make less than $157,500? Then, YES! Posted Sep 27, 2018
Real Estate Agents: What Auto Use is Deductible? A Lot More if You Have a Home Office! The auto deduction is a real estate agent’s largest tax deduction. We show you how you can make the most of this deduction. Posted Mar 30, 2018
Real Estate Agents, the #1 key to maximizing your tax deductions is your home office Maximum tax deductions for real estate agents start with having a qualified home office. This article explains the "Why?" and "How?" of setting up a home office. Posted Mar 12, 2018
Form 1099-NEC & 1099-MISC, Who Must File is Important & Confusing The vast majority of businesses and organizations are required file 1099-NEC & 1099-MISC Forms when they make payments that require Form 1099-MISC. Posted Jan 17, 2018
The 1099-NEC & 1099-MISC Perjury-Trap & Penalty Escalator Explaining the perjury statement and how the IRS uses it to assess other penalties. Posted Dec 28, 2017
How to Use The Tax Cuts and Jobs Act to Reduce Your 2017 Tax Bill (Updated) Strategies for using the Tax Cut and Jobs Act to minimize your 2017 taxes. Posted Dec 20, 2017
How to cut taxes and not go broke(r) We show you how cuts in individual tax rates will impact tax collections. Posted Nov 22, 2017
Does My Church Need to File Form 1099-NEC and 1099-MISC? Here's how to find out if your church needs to file a 1099-MISC with the IRS. Many do, but don't. Posted Nov 13, 2017
Form 1099-NEC and 1099-MISC Noncompliance (Can Literally Destroy Your Business) This article will discuss the tax gap, why small business is in the IRS crosshairs, and the steps - including LARGE penalties – to increase compliance. Posted Sep 22, 2017
Not Understanding Form 1099-NEC is Risky Business All businesses, nonprofits, and government agencies must file Form 1099-MISC when they make payments that require it. Posted Mar 01, 2017
Last Minute Tax Tips 2016 Every $1,000 in additional deductions or reductions in taxable income can save up to $390 in federal tax! Posted Dec 20, 2016

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