Tax Tips Archives • Page 3 of 5 • Financially Simple

June 19, 2018

June 19, 2018

Selling Your House? What You Need to Remember About the Taxes

If selling your house is in the near future, you must keep a few things to keep in mind. For example, the sale of your home could put you in another tax bracket, that is unless you also qualify to exclude all or part of the income from the sale. Below, are tax tips you need to know when you sell your home:

May 22, 2018

The Tax Cuts and Jobs Act Brings Changes for Business Depreciation

The IRS reminds business owners that the passage of the Tax Cuts and Jobs Act may affect business depreciation deductions and taxes. Generally, we business taxpayers can depreciate the tangible property except for land, including buildings, machinery, vehicles, furniture, and equipment.

April 24, 2018

How Are Your Withholdings? Too Much? Too Little? Or Just Right?

Did you owe the IRS or get a larger refund than you expected? If so, it may be a good idea to do a withholdings checkup. The IRS offers taxpayers the use of a Withholding Calculator on their website. It is a good idea to ensure that you are withholding the right amount of income tax from your paychecks. No one wants to loan money to or owe the IRS, so take time to do so now.

January 23, 2018

Data Breach Victims – 5 Steps to Take if You Have Had Your Identity Stolen

Each and every single day, data thefts put people’s private and financial information at risk. There are steps that you, as an identity theft victim, can take to safeguard your financial accounts, your identities, and tax returns.

November 28, 2017

Data Protection Tips to Help Taxpayers and Businesses

The second annual National Tax Security Awareness Week happened in late November 2017. This event is part of the Security Summit, part of an ongoing collaborative effort to combat tax-related identity theft. The IRS, state tax agencies, the tax industry, and groups came together to encourage people to protect their tax data and identities. Criminals are always working hard to obtain people’s personal data. With the number of data breaches at record levels, these are issues that pose a threat to individuals and businesses. And their new target – taxes and tax returns. Here are a few simple steps taxpayers can take to protect themselves from cybercriminals.

November 21, 2017

6 Resources for Tax Help After a Disaster

Taxpayers Can Look to the IRS for Tax Help After a Disaster Now that hurricane season is officially over, coastal residents can breathe a sigh of relief. However, other natural disasters can still strike. When they do, the IRS is an agency standing by for taxpayers looking for help after a disaster.