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.
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How Congress is Killing the Tax Profession (Part 3)
Discover how Congress is making tax preparation more challenging and what you can do to protect yourself. Learn why tax extensions are your friend, why quality tax services are worth the cost, and how you can support tax professionals in an evolving industry.
Published: 02/06/2025
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How Congress is Killing the Tax Profession (Part 2)
Discover how Congress’s ever-changing tax code is transforming the tax profession. Learn about the increasing complexity, fraud challenges, and why the April 15th deadline is outdated in Part 2 of this insightful series.
Published: 01/28/2025
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West Virginia’s Motor Vehicle Property Tax Credit – Are You Missing Out?
West Virginia taxpayers and businesses can claim the Motor Vehicle Property Tax Adjustment Credit and get money back—even if they owe no income tax! Learn who qualifies, how to claim it with Form MV-1, and where to find your property tax records. Don’t miss out on this valuable tax break!
Published: 01/28/2025
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How Congress is Killing the Tax Profession (Part 1)
Learn how Congress’s constant tax code changes turned Form 1040 into a complex labyrinth—discover the burden on pros and taxpayers in Part 1.
Published: 01/27/2025 - Edited: 01/28/2025
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Year-End RMD Reminders and Recent Changes
Stay informed about year-end RMD deadlines and the latest changes from the SECURE 2.0 Act. Learn key updates for 2024, including new Roth account rules and how to avoid penalties. Plan smarter for your retirement!
Published: 12/17/2024
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Update! Beneficial Ownership Interest Reporting - BLOCKED NATIONWIDE
A Texas federal court has preliminarily blocked the Beneficial Ownership Reporting requirement nationwide, a key provision of the Corporate Transparency Act, in a lawsuit filed by a family-run business and the Libertarian Party of Mississippi.
Published: 12/11/2024
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Updated for 2024! Business Deductions - Seven Tax-Cut Tricks
Boost your business profits and cut taxes with these 7 tax-cut tricks, from Section 179 deductions to hiring your kids, and make the most of the 2024 tax season!
Published: 12/11/2024 - Edited: 12/16/2024
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Beneficial Ownership Interest Reporting: What?… Why?… Wait… What?!
As one learns more about BOI reporting, they are more likely to shake their head and ask, “What? …Why? ...Wait, What!?”
Published: 11/26/2024
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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!
Published: 12/18/2023
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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
Published: 07/28/2023
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Retirement Taxation Deferred vs. Non-Deferred vs. the ROTH
A review of the tax implications of three popular retirement-saving options.
Published: 06/02/2023 - Edited: 06/06/2023
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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.
Published: 04/17/2023
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Why is April 15th the Extension-Filing Deadline?
A brief history of Form 1040’s due date
Published: 04/06/2023
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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.
Published: 03/27/2023
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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!
Published: 02/22/2023
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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.
Published: 02/07/2023
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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.
Published: 12/12/2022 - Edited: 12/27/2022
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Notable Tax Changes for 2022
The list of significant tax changes impacting your 2022 tax return, especially compared to 2021
Published: 11/30/2022
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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.
Published: 08/10/2022 - Edited: 11/01/2024
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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.
Published: 07/25/2022
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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.
Published: 07/07/2022 - Edited: 04/03/2023
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The Earned Income Tax Credit - History & 2021 Changes
This article will focus on changes to the Earned Income Tax Credit.
Published: 01/11/2022
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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.
Published: 12/10/2021
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Your Second ($600) Stimulus Payment
This article answers some common questions regarding these stimulus payments.
Published: 01/06/2021
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Introducing IRS’s New Form 1099-NEC, Nonemployee Compensation
What’s is Form 1099-NEC? A brief explanation of this new (not new) form.
Published: 08/05/2020 - Edited: 08/20/2020
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State Form 1099-NEC & Form 1099-MISC Filing Requirements
A quick summary of state requirements for Form 1099-MISC & 1099-NEC.
Published: 08/05/2020 - Edited: 01/24/2022
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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.
Published: 06/14/2020 - Edited: 07/15/2022
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IRS Announces That Forgiven Payroll Protection Loans are Back-Door Taxable
Many business owners are wondering if taking a PPL made good business sense.
Published: 05/01/2020
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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.
Published: 04/20/2020 - Edited: 04/27/2020
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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.
Published: 04/09/2020 - Edited: 04/11/2020
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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.
Published: 12/23/2019
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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.
Published: 12/23/2019
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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.
Published: 05/14/2019 - Edited: 07/24/2019
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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.
Published: 01/29/2019 - Edited: 01/16/2025
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2018: Major Business Tax Changes
Big changes in the TCJA! Here are the changes that are impacting businesses and business owners.
Published: 12/18/2018 - Edited: 07/23/2019
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What are Statutory Nonemployees?
Are you an employee? Indepent contractor? The answer to this question has a major impact on your bottom line!
Published: 12/03/2018
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2018 Tax Changes for Individuals & Planning Tips
Our guide to the tax law changes that will impact most taxpayers in 2018 (and beyond)!
Published: 11/28/2018 - Edited: 12/11/2018
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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!
Published: 09/27/2018 - Edited: 12/09/2019
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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.
Published: 03/30/2018 - Edited: 01/03/2022
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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.
Published: 03/12/2018 - Edited: 01/18/2022
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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.
Published: 01/17/2018 - Edited: 01/13/2023
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The 1099-NEC & 1099-MISC Perjury-Trap & Penalty Escalator
Explaining the perjury statement and how the IRS uses it to assess other penalties.
Published: 12/28/2017 - Edited: 08/22/2022
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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.
Published: 12/20/2017 - Edited: 03/08/2018
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How to cut taxes and not go broke(r)
We show you how cuts in individual tax rates will impact tax collections.
Published: 11/22/2017 - Edited: 03/08/2018
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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.
Published: 11/13/2017 - Edited: 01/16/2025
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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.
Published: 09/22/2017 - Edited: 09/01/2020
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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.
Published: 03/01/2017 - Edited: 08/12/2020
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Last Minute Tax Tips 2016
Every $1,000 in additional deductions or reductions in taxable income can save up to $390 in federal tax!
Published: 12/20/2016 - Edited: 01/06/2018