tax tips

Posts Tagged ‘tax tips’

Plan Now, Save Later! (Part 2)

By Andy Johnson, CPA, Tax Principal, Cover & Rossiter Welcome back for Part Two! In Part 1, we discussed the strategy of Batching Your Itemized Deductions (click here to read Part 1), and we hope this has kick-started your Tax Planning Season.  In Part Two, we will highlight a few alternative strategies you might consider…

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New Client Support Tools – Check them out!

Earlier this year, we added new tools to our website. Our goal is to make it easier for you to get answers to questions any time they come up. Here are a few of the questions, these tools can help answer: Where’s my refund? How many years do I need to keep tax documents? I’m…

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5 Tips to Simplify Tax Time

April 15 always seems to sneak up, and surely this year will be no different. While there’s no escaping the tax deadline, this year can be the easiest tax season ever. Use the following tips to streamline the tax return process and minimize stress. Review and complete the tax organizer. The organizer provides you with…

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Tax Tips for Individuals Selling Their Home

If you sell your home and make a profit, do you know that the gain may not be taxable? That’s just one key tax rule that you should know. Here are ten facts to keep in mind if you sell your home this year. If you have a capital gain on the sale of your…

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Tips for Taxpayers with Foreign Income

If you are living or working outside the United States, you generally must file and pay your tax in the same way as people living in the U.S. This includes people with dual citizenship. If you’re a taxpayer with foreign income, here’s what you should know: 1. Report Worldwide Income. The law requires U.S. citizens and…

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Tips on Travel While Giving to Charity

Do you plan to donate your services to charity this this year? Will you travel as part of the service? If so, some travel expenses may help lower your taxes when you file your tax return next year. Here are five tax tips you should know if you travel while giving your services to charity.…

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6 Tips on Gambling Income and Losses

Whether you play the lottery, roll the dice, play cards, or bet on the ponies, all of your gambling winnings are taxable and must be reported on your tax return. If you’re a casual gambler, here’s what you need to know about figuring gambling income and loss. 1. Gambling income includes winnings from lotteries, raffles,…

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Tax Tips for Self-Employed Taxpayers

If you are an independent contractor or run your own business, there are a few basic things to know when it comes to your federal tax return. Here are six tips you should know about income from self-employment: Self-employment income can include income you received for part-time work. This is in addition to income from…

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Five Basic Tax Tips for New Businesses

If you start a business, one key to success is to know about your federal tax obligations. Not only will you probably need to know about income taxes, you may also need to know about payroll taxes as well. Here are five basic tax tips that can help get your business off to a good…

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