TPSAMay 104 minVacation Home Rentals: How the Income Is Taxed For a home that is rented out part-time, one of three rules must be considered, based on the length of the rental.
TPSAApr 215 minTax Issues That Arise When Converting a Home into a RentalWith the current substantial appreciation in home values and demand for housing exceeding the available inventory and low home mortgage...
TPSAApr 63 minThe Tax-FIling Deadline is Drawing NearAs a reminder to those who have not yet filed their 2021 tax returns, April 18, is the due date to either file a return (and pay the taxes..
TPSAApr 64 minAre Damage Awards Taxable?The tax code specifies that all income is taxable from whatever source derived unless exempted by the Internal Revenue Code. The tax code...
TPSAMar 43 minMarch 2022 Due DatesHere are the February 2022 Due Dates for Individuals and Businesses.
TPSAFeb 152 minIf You Have a Side Hustle, Be Advised: The IRS is Cracking DownFor several years now, the IRS has required payments made to merchants through various marketplaces, payment processors (credit & debit...
TPSAFeb 23 minDon’t Think You Have to File a Tax Return? You May Be Missing Out!These days the tax return is used for more than just collecting taxes. It has also become a tool for the government to provide social...
TPSAFeb 13 minFebruary 2022 Due DatesHere are the February 2022 Due Dates for Individuals and Businesses.
TPSAJan 123 minAdvance Child Tax Credit and EIP Must Be Reconciled on Your 2021 ReturnIn 2021, Congress passed the American Rescue Plan, which included a provision that increased the child tax credit amount and upped the age..
TPSADec 2, 20214 minTax-Free GiftingSuppose you are fortunate enough to have an estate large enough to be subject to the estate tax upon your passing. In that case, you might..
TPSADec 2, 20216 min10 Tax-Saving Strategies to Consider Before Year-End Now is the time to ensure that you’ve taken advantage of all of the tax-saving strategies available to you.
TPSADec 2, 20212 minPresident Biden’s Build Back Better Act Passed by The HouseOn November 19, 2021, the House of Representatives passed their proposed version of President Biden’s Build Back Better Act...
TPSADec 2, 20213 minDecember 2021 Due DatesDecember 2021 Tax Due Dates for Individuals and Businesses
TPSANov 23, 20216 minWatch Out for Tax PenaltiesMost taxpayers don’t intentionally incur tax penalties, but many who are penalized are simply unaware of the penalties or the possible damag
TPSANov 3, 20212 minBiden Administration Backs Off on Proposed Bank Transaction Threshold Tax-compliance rates in the United States are based, in large part, on how taxpayers accrue income. Those who receive income that's...
TPSAOct 25, 202110 minUnderstanding Tax LingoWhen discussing taxes, reading tax-related articles or instructions, one needs to understand the basic lingo and acronyms used by tax pro...
TPSAOct 25, 20212 minHigh-Income Backdoor IRA Strategies May Backfire If New Tax Bill PassesWhile it's usually true that the "rich get richer," a proposed tax code will prove a remarkable exception if the House has its way.