QR code technology comes to the IRS

Do you owe the IRS money? Or maybe you are unsure of your payment options. In theory, you know that there is much in the way of good information on the IRS website (IRS.gov – don’t be fooled by a scammer trying to take you to a look alike website), but it can be overwhelming …

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Are you an identity theft victim?

The amount of identity theft cases continues to increase each year and could even affect your tax return and/or refund. Identity thieves will use another individual’s social security number in order to file a false tax return to claim a refund. This tends to happen early in the tax filing season. You may be a …

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The child tax credit may cut your taxes

For those of you with children, you hear rumors about the tax benefits of children. Unfortunately, some of the tax benefits seem to be less than the actual monetary cost of the child, but there is a way to potentially offset your tax bill with credits related to those adorable urchins. The Child Tax Credit …

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Throw a party, catch a tax deduction

Writing a check to your favorite charity is always a great way to support the organization and often results in an itemized deduction on your tax return. Throwing a fundraiser in your home for that organization can result in a tax deduction as well. You just need to make sure you follow some rules. First, …

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Student loan interest: Can tax law keep up?

It’s been termed a crisis and the numbers bear that out. In the first quarter of 2019 student loan debt reached an all-time high of $1.4 trillion. In the last ten years the amount of student loan debt has increased by 116%. There has been a great deal of discussion regarding student loans and various …

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Tax benefits for members of the military

If you are a member of the U. S. Armed Forces, likely the last thing on your mind is taxes. Be aware though, there are many special tax benefits available to members of the armed forces. Don’t miss: How to report identity theft to the IRS Following are six of those benefits: Deadline Extensions. Some …

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Relief for late filing of S-corporation elections

In order to properly qualify a newly created entity for S-corporation status, Form 2553 must be filed no more than two months and fifteen days after the beginning of the tax year the election is to take effect. Not surprisingly, this brief window of opportunity is frequently overlooked by taxpayers unfamiliar with the rule, and …

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Did my doppelganger file for unemployment or am I a victim of fraud?

You received mail from the Arizona Department of Economic Security (DES) regarding your recent application for unemployment benefits. Trouble is you never applied for unemployment. Don’t just drop the letter in the trash. You could be a victim of identity theft, and Arizona wants to hear about it. Fraud is common with unemployment but since …

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New vehicles that qualify for a tax credit

IRC 30D(a) offers a credit to the buyer of an eligible plug-in electric drive motor vehicle. According to the IRS website, the additional models of Audi, MINI and Toyota Prius now qualify for the plug-in electric drive motor vehicle tax credit. The amount of the credit is $2,500 for allowed vehicles purchased after December 31, …

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Customized reports and analysis

As discussed in the blog on dashboards and visualizations, there are increased benefits when integrating multiple software packages a company uses, such as general ledger, inventory management, customer relationship management, human resource information system and point-of-sale systems.  Once the applicable software packages are integrated, the customized reports and analytics can be prepared. Don’t miss: Transfer …

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