News, Tax & Accounting Resources
Understanding the Essentials of What Can Be Taxed
Navigating the tax system can be challenging for everyone. Managing taxes begins with understanding what can be taxed. Here are some key points to help you better understand the basics of our tax system. Different types of taxes Income tax is often the first to come...
Think Before Tapping 401(k)s and IRAs as Emergency Fund
Americans are now allowed to withdraw up to $1,000 every year from retirement accounts to pay for a broad range of emergency expenses. As tempting as that might sound, there are several reasons why you should avoid tapping your retirement accounts at all costs....
Debt Relief and Taxes You May Still Have to Pay
Negotiating to decrease or zero out a credit card bill or other loan balance can help relieve a tough financial situation, but it can also give way to an unexpected tax bill. Here's a quick review of various debt cancellation situations and how they impact your taxes....
IRS Warns – Beware of Scammers Targeting Your Tax Info
Tax scammers continue to become more sophisticated, which means it’s more important than ever to pay attention to any person or message asking you to provide confidential information. Here are several of the more prevalent scams to be on the lookout for, according to...
The Importance of Partnering with a Tax Expert if the IRS Comes Knocking
Responding to a letter from the IRS or a tx audit by yourself is not the same as fixing a leaky faucet or changing your oil. Here are reasons to partner with a tax professional as soon as you receive a letter from the IRS: IRS auditors do this for a living – you...
