The Tax Implications of Legal Settlements: Will You Owe The IRS?
Legal settlements can be a welcome relief for those who have experienced personal injury, discrimination, or other legal issues. Unfortunately, many people do not realize that some or all of
-
Can You Deduct Your Medical Expenses from Taxes?
When tax season rolls around, many people wonder if they can deduct their medical expenses from their taxes. It’s a valid question, as medical costs can quickly add up and
Read More -
Think You’re a Tax Expert? Take Our Quiz and Find Out!
The last few years have been challenging for taxpayers. With the introduction of pandemic tax relief and new tax laws, filing taxes was anything but simple. Even tax professionals had
Read More -
2024 Tax Deadlines for Small Business Owners
Owning a business comes with many responsibilities. One of those is filing your tax returns by the deadline date (or requesting an extension). Another is making sure your taxes are
Read More -
The IRS to Provide $1 Billion in Penalty Relief to Nearly 4.7 Million Taxpayers
The IRS has announced new penalty relief to assist approximately 4.7 million individuals, businesses, and charitable organizations. This is a major step to assist those who owe back taxes but
Read More -
Can I Claim My Parent as a Dependent?
If your mom or dad is elderly or ill, you may be wondering, “Can I claim my parent as a dependent?” The short answer is maybe. That’s because certain tests
Read More -
The IRS Appeal Process: What to Expect After Filing an IRS Appeal
When dealing with tax matters, it’s not uncommon to find yourself in a situation where you may disagree with the IRS on one or more issues. When this happens, you
Read More