Don’t Fall Victim to these Tax Scams!

Each year, the IRS updates their “Dirty Dozen” list of tax scams to watch out for during the filing season. The list highlights the most common scams that taxpayers have dealt with during the previous year. #1 – Identity Theft Tax-related identity theft occurs when someone uses your stolen Social Security Number (SSN) to file …

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Fantasy Sports Tax Obligations

One week fantasy football leagues like Fan Duel and Fantasy Kings are taking the 2015 football season by storm. It seems like we can’t watch a commercial break during an NFL game without seeing a fantasy football advertisement airing with “real people” claiming how much money they bet which resulted in how much money they’ve …

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Tax Implications of Marriage on Your Filing Status

Have you recently gotten married or plan on getting married sometime in the near future? Are you worried about the tax implications? There are a couple of choices that can be made on your upcoming tax returns that can either save or cost you money. Your current situation will be the determining factor in what …

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The Tax Benefits of Hiring Your Kids

Hiring your kids can be very beneficial for many reasons, not the least of which includes tax benefits. So consider putting your kid to work (so long as you follow all child labor laws!) and reap these potential benefits: Wages that you pay to your child are deductible by your business provided that your child is …

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Basic Tax Tips for New Businesses

So – you are tied of working for someone else, and want to be your own boss? Make all of the decisions? Be in charge? Or maybe you have a great idea that no one else is doing? Or you have a passion for something, and think that it can support you and your family? …

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When Happily Ever After Isn’t: Innocent Spouse Relief

The union of two people in life generally comes with optimism for the future; a hope for the life that will be “happily ever after”. Reality however, can sometimes have a different agenda. There are situations where one spouse or ex-spouse finds themselves on the wrong side of the IRS for a jointly filed tax …

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