Pre-Tax Preparation

Pre-Tax Preparation

As January 31 approaches, your mailbox should start filling up with forms like we talked about last week and earlier this month. But we’re not done! Form 1098: Use Form 1098 (Info Copy Only) to report mortgage interest of $600 or more received by you during the year...
Know Your Forms

Know Your Forms

The gig economy — and 2024’s new reporting rules for PayPal, etc. — are going to make 1099s more “popular” than ever. There is a dizzying array of situations that call for 1099s, and it’s on us to know.    For example, there’s a long-standing rule at the IRS which...
Know Your Penalties

Know Your Penalties

By now you’re either sitting pretty or you’ve become a…tax fugitive! If you’re living on the dark side now, you should know the exact penalties that are accruing against you:  Information Return applies to taxpayers who don’t file or furnish their required information...
Tax Paperwork: Something Is Better than Nothing

Tax Paperwork: Something Is Better than Nothing

As “The Taxening” approaches, you may find yourself at wit’s end trying to locate all of your documents — but odds are that you can get started anyway.  One of the things that we’ve learned over the years is that sending something is better than sending nothing. If...
Treat Yourself to a CPA

Treat Yourself to a CPA

Imagine: The government, which already takes taxes out of your paycheck, files your taxes for you. There are no deadlines or extensions; doing taxes simply does not exist as a thing any more. That’s the reality in Ireland and other countries in Europe, and they’re not...
Taxes: The Gathering

Taxes: The Gathering

It’s almost the end of January already! It’s time to get your books in order, if you haven’t already done so. Your accountant will soon have a tax organizer out to you, so dust off your file cabinets and start pulling together the following...