Making Finances Simple. Changing Lives.
Most people who have Health Savings Accounts (HSA’s) use the account to pay medical expenses that occur each year. For many folks, this is potentially a huge mistake. There’s a better strategy!!
Everybody knows we’re in the midst of an absolutely insane real estate market. Home prices have been rising for years now, and COVID only accelerated those increases due to interest rate decreases and supply/demand imbalances. This has created significant issues for buyers!
The American Rescue Plan Act (ARP) that went into law this past March expands the existing Child Tax Credits. The credits are now increased and advanceable. But should you take advantage of having the credits paid in advance of your tax return filing?
The American Rescue Plan (ARP) made a change to the Premium Tax Credit rules for healthcare. Those who receive excess credits during the year usually have that reconciled and repaid through their tax return filing…
Over 10 million taxpayers filed their tax returns before the American Rescue Plan was enacted this past March, which excluded some unemployment income from being counted as taxable income. Read on to see what the IRS is doing about these returns…..
It sounds great to get a phenomenal deal on a home with good bones in a great neighborhood. But it’s critical to be realistic about the nature of fixer-uppers…
For years the IRS has taxed unemployment as ordinary income. However, the American Rescue Plan Act of 2021 made some changes to unemployment taxation…..
Yet another stimulus was passed in mid-March to give many Americans more relief from financial setbacks related to the COVID pandemic…..
Since the onset of COVID and the 2019 tax filing season, taxpayers have been seeing delays in receiving their refunds. So what can you do if you’re one of the many experiencing this delay?
The IRS has once again made adjustments to tax deadline dates. See below for the different changes and how they affect you…..
Yet another COVID measure is being signed into law on Friday, March 12. See below for specifics expected to be included…
COVID brought about a ton of financial changes in 2020. The biggest one on most minds was the stimulus payments that went out. It became a very confusing topic all year. The IRS has provided clarification. See below…
The CARES Act that came about as a result of COVID brought about several changes to 2020 tax returns. Below is a quick breakdown of a few items…
We always like to keep you updated with changes in tax & financial info. Click below for a short-version form of tax update changes from 2020 to 2021, as well as a more expansive full-version of key financial data for the 2021 tax year.
NOTE: some information will very likely be modified with the administration change, as taxes will likely see further reform. We’ll be sure to keep you updated!
With COVID, many employees are now working out of home. We’re receiving lots of questions on the deductibility of home office expenses and the like. See below for a recap on how these deductions work!
Each year, home loan limits are assessed as they relate to average home prices. Appreciation in home values can lead to an increase in loan limits. See below for how this impacts you…
Because of COVID, more and more people are working from home these days. Below is a breakdown of the tax implications of work-related expenses…..
Toward the close of each year, we like to provide ideas for year-end moves, as well as items that may be best delayed into the next year. This year is different than any other we’ve seen in a long time! See below to learn why…..
With the election season upon us, we figure we’d give you a brief layout of what the individual candidates have said will be their tax policy. There’s no personal opinion here…so please refrain from responding with political fireworks!
Yes, another news flash related to the coronavirus! The IRS has implemented several measures in response to the COVID pandemic. One major one is the provision that allows for temporary changes to retirement plan withdrawal and loan rules.
We’ve received several messages from clients this week about mysterious money hitting their bank account from the IRS. What is going on?
What is going on with home values?! Many areas in the United States are experiencing significant run-ups in home values…..
Unfortunately, renovations made to your primary home are not usually deductible for tax purposes. However, you can still benefit tax-wise from renovations in certain instances. See below for some examples:
One of the government implementations with COVID is to allow mortgage forbearance for borrowers who are directly affected by the virus. But before you jump for relief, it pays to know the details…..