Avoid getting hooked by phishing scams

In IRS Tax Tip 2019-170, the IRS laid out the tactics of phishing scammers and how to look out for them. Phishing scams are intended to trick users by disguising an email or website to look legitimate, convincing the users to provide personal information or click on unsolicited links. These emails can come to work …

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Ghost tax preparers

The IRS is warning taxpayers about potential ghost tax preparers. A ghost tax preparer is someone who prepares the return but does not sign it or even include information that is vital. Don’t miss: What you need to give your CPA to prepare your 2019 tax return From this point the ghost preparer is free …

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Key changes to 2019 Arizona tax returns

Tax season is upon us! Individual income tax filing began on January 27th for both state and federal. I am as excited to file a return this year as most are but there have been some changes this year that are good to know as a taxpayer. Below are five key Arizona tax changes. Don’t …

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Payroll tax credit for increasing research activities

The PATH Act has a provision that may be beneficial to companies just starting out that do not have any taxable income yet, but are doing research and development (R&D). This provision allows qualified small businesses to take the R&D credit against the employer portion of Social Security payroll tax. A qualified small business is …

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Begging for the Earned Income Tax Credit

I recently ran across a 1999 tax court case that I thought was kind of humorous. Well I guess humorous if you do taxes for a living. Even though it is on the older side, it has some principles that can be learned for the earned income tax credit. The tax court case is Miguel …

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Energy credits save you tax with home improvements

Did you make energy efficient improvements to your home last year? Purchase an energy efficient air-conditioner or water heater? If so, you may qualify for energy credits on your 2016 tax return. The Energy Star website details the credits available for energy efficient purchases made in 2016 and how to qualify. Prior year credit information …

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4, 3, 2, 1…Booster ignition, we have liftoff to avoid taxes!

“TRAPPIST – 1 to ground control, TRAPPIST – 1 to ground control, we have flight.” Are you lost yet? If you aren’t lost then it is probably because you heard about NASA’s recent discovery of a potentially habitable sister solar system, “The TRAPPIST-1 System” and you are envisioning yourself, with a huge grin on your …

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How does your nonprofit qualify to receive tax credit donations?

The holiday season is usually one associated with giving as the nationwide Giving Tuesday recently passed. This day has become a major revenue raiser for charities, bringing in over $117 million in charitable donations in 2015, according to NBC. If your organization didn’t participate in Giving Tuesday or it didn’t qualify, don’t fret as a …

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Credit for Taxes Paid to Another State or Country

Keep your accountant on their toes and check your returns. You should always check your income tax returns before signing and ask your accountant about any questions you may have. Accountants are people too and mistakes do happen, so make sure to at least take a glance at your returns before signing. I wanted to …

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