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Tips to Protect Yourself From Tax Scams

Mon, Feb 18th 2019
Too many people downplay the threat of identity theft because it hasn't been witnessed or experienced firsthand. This false sense of security can leave you exposed, especially during tax season. Here are some tips to keep your identity safe from scammers: Be naturally suspicious. Understand that there are people out there trying to get your information, and others willing to pay for it. With that knowledge, be suspicious of anyone asking for personal information - especially your Social... Read More »

Audit Proof Your Tax Return

Tue, Feb 12th 2019
No one likes the stress involved when your tax return is under the audit spotlight. Here are some ideas to avoid some of the more common audit triggers. Report everything that has an informational tax return. If you are like most Americans, you will receive numerous 1099s, W-2s, and 1095s in the mail. The IRS receives them too. If your tax return does not meet or exceed this reported income you can count on receiving a notice from the IRS. Some hints:Make a list of the forms received last year... Read More »

Early Filers Alert! Know whether you should file early

Mon, Feb 4th 2019
Tax filing season officially began on Monday, Jan. 28. With the new rules and a backlog of work due to the shutdown, it's more important than ever to get your tax records organized early. If any of the following situations pertain to you, consider filing your taxes as soon as possible. You’re worried about tax identity fraud. One of the most popular scams by identity thieves is to impersonate someone, file a return on their behalf, and steal their refund. But once you’ve filed, the window of... Read More »

Taking a Home Office Deduction

Mon, Jan 28th 2019
Cloud-based applications, extensive communication channels, and other new technologies make it easier to run your business out of your home. If you qualify, many home business expenses are deductible. Think you might qualify? You must first pass these tests. Trade or business use test. To qualify for business use of your home you must use part of your home for a qualified trade or business. This profit seeking activity must not be a hobby in the eyes of the IRS. Exclusive use test. You must use... Read More »

How to Build Your Savings Using Technology

Mon, Jan 21st 2019
According to a study by Cornell University, the human brain is wired to earn money more so than save it. As such, when we find we need more money in our lives, our instinct is to earn more and not spend less. In fact, this instinct tends to grow over time, and is one reason why people tend to spend more money when they receive a salary increase rather than save it. However, researchers believe that by being cognizant of this fact, we can take proactive measures to develop effective savings... Read More »