by Taylor Stephens | Jan 26, 2023 | Tax
This is our annual reminder that if you use workers other than employees to perform services for your business and pay them $600 or more for the year, you are required to issue each one a Form 1099-NEC after the end of the year to avoid facing the loss of the...
by Kelly Haden | Jan 26, 2023 | Tax
When it comes to transactions between family members, the tax laws are frequently overlooked, if not outright trampled upon. The following are some commonly encountered situations and the tax ramifications associated with each. Renting to a Relative – When a taxpayer...
by Kenny Eldridge | Jan 26, 2023 | Tax
With the holiday celebrations coming to an end, now is the time to take a look at the changes that will impact your 2023 tax return when you file it in 2024. Keeping up with the constantly changing tax laws can help you get the most benefit out of the laws and...
by Claude Silverman | Jan 20, 2023 | Tax
Married taxpayers generally have the option to file a joint tax return or separate returns, a filing status commonly referred to as married filing separate (MFS). If you are married and you and your spouse are filing separate returns, or are considering doing so, you...
by Claude Silverman | Jan 13, 2023 | Tax
Individuals are always looking for tax deductions that can reduce their tax liability. But what is the actual tax benefit derived from a tax deduction? There is no straightforward answer because some deductions are “above the line”, others must be itemized, some must...
by Kelly Haden | Dec 13, 2022 | News, Tax
The holiday season is customarily a time of giving gifts, whether to your favorite charity, family members or others. Some gifts even provide a variety of tax benefits. But be wary; during the holiday season, you may receive phone calls, texts, emails, snail mail, or...
