Author: taxsecretsblog

Article Highlights: Information Reporting IRS Matching List of Documents To ensure individuals properly report all their income, the IRS has an ever-expanding series of information-reporting forms used to advise you and the IRS of your wages, retirement plan income, Social Security benefits, health insurance premium

Article Highlights: Collecting Paperwork  Decedent and Survivor Social Security Benefits   Probate Decedent’s Estate  Decedent Final Tax Return  Other Tax Returns  Surviving Spouse  Survivor Benefits Surviving Spouse Filing Status  The death of a loved one is one of life’s most difficult times and a time

For years now, litter taxes have been touted to solve our persistent litter problems in the United States. In fact, some politicians seem to believe these levies are a sort of magic elixir – but are they really working in the states and municipalities where

Baby Boomers – the largest generation in America by the numbers – are approaching their golden years. This means that many are beginning to look ahead to a healthy and secure retirement as they put their years in the workforce behind them. One of the

Article Highlights: Health Flexible Spending Arrangement (FSA) Benefits of an FSA Qualifying for an FSA Contributions to an FSA Amount of Contribution Distributions From an FSA Qualified Care Expenses Qualified Medical Expenses Use-It-or-Lose-It A health Flexible Spending Arrangement (FSA) allows employees to be reimbursed for

Since we're still in the early weeks of 2024, now is the perfect time to improve your business operations with QuickBooks for a more efficient and prosperous year ahead. QuickBooks Online continues to provide a wide array of bookkeeping and accounting features to simplify financial

Article Highlights: Ghost Preparers PTIN Requirement Signing the Return Preparation to Boost Refund Taxpayer Left Holding the Bag How to Report Ghost Preparers Professional Tax Preparation As people begin to have their 2023 tax returns prepared, this is a reminder to avoid unethical “ghost” tax

In the wake of the pandemic, remote work has become the new norm for many American workers. As businesses across a wide range of industries have shifted to a remote model, employees and employers alike have experienced numerous benefits such as reduced overhead costs, increased

Article Highlights: Estate and Gift Tax Personal Exemptions Standard Deductions Home Mortgage Interest Deduction Limitation on Tax Deductions (SALT) Suspension of Tier 2 Miscellaneous Itemized Deductions Suspension of the Limitation on Itemized Deductions Individual Tax Rates Child Tax Credit Special Rule for Certain Discharges of

As a small business owner, the word 'audit' can be a source of anxiety. However, understanding the common triggers for an IRS audit and taking proactive steps can significantly reduce the likelihood of facing one. This article explores the factors that could lead to an