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Schedule K-1: What Is It & Do I Need It For My Taxes?

Did you know that many business entities, trusts, estates, and certain investments are all required to file tax returns that produce a Schedule K-1? Those K-1s show your share of the income, expenses, deductions, and other important tax reporting inf... read more

It’s Tax Scam Season: Beware & Stay Safe Out There!

Scammers are smart and it’s becoming increasingly more difficult to tell what’s legit and what’s an attempt to defraud you. The first step to protect yourself against scammers is to be aware of how they operate and learn how to spot the red flags. Th... read more

Tax Law Changes & Your W-2 Box 14

With the recent tax law changes, you might see additional information and codes in Box 14 of your W-2. Currently, there are no standardized codes to designate income such as “No Tax On Tips” or “Overtime”. While next year, the W-2 form will include s... read more

Child’s Own Tax Return & Kiddie Tax

When it comes to children and taxes, it’s a confusing topic for many. Does my child need to file a tax return of their own? Do I need to include their income on my tax return? We know that if a child is employed (W-2) they may need to file their own ... read more

Do I have to file a tax return?

Whether or not you have to file a tax return isn’t just about how much income you earned. Sure, that’s part of it for most taxpayers, but the type of income also matters. For example in 2025, if your net earnings from self-employment are $400 or more... read more

Tax-Related Identity Theft: What Should I Do?

Identity theft is real, unfortunately. For some people, concerns about possible identity theft and security start to grow when a tax filing is rejected due to a social security number. Often though, an e-file reject is simply caused by a typo or a de... read more

Maximize Your Refund: Your Video Guide to the 5 Key Tax Filing Statuses

Tax filing status impacts several key areas of your federal tax return: whether you are required to file, the size of your Standard Deduction, your tax rate, your eligibility for specific tax credits, and ultimately, the amount of tax you owe (or the... read more

The 5 Filing Statuses - Get it Right!

The first step to maximizing your tax refund - and possibly keeping the IRS at bay - is to use the correct filing status on your tax returns. If only it were as simple as choosing Single or Married. But alas, there are a whopping five (5) filing stat... read more

Jumpstart Your Taxes: Get Ready for Tax Time!

Be prepared and make tax preparation a breeze! Imagine how beneficial and stress-free it would be to not rush around last minute gathering your tax info. You can begin by making a list of what's changed since last year and gather your supporting docu... read more

Last Minute Tax Tips & Money Strategies!

The end of the year is more than just holidays, great food, and family! It’s also the perfect time to make smart money decisions, take action to reduce your tax liability and give yourself peace of mind! The following links are filled with tips and s... read more

Turbotax 2024 license code

I am trying to efile 2024 taxes because they never got filed last year. I have downloaded 2024 desktop but now need to purchase a code. How can I do that?

Underpayment penalty annualized income itemized deductions for Schedule A

Using the annualized income method to minimize the penalty, I noticed that the Itemized deductions for Schedule A numbers/screen keep getting reset to nothing randomly, anyone else seeing this problem?

Why would a SSN now appear "Not valid for employment" when it has been used for 40+ years in filing returns?

Do either of these choices apply if I simply create content for my monetized YouTube channel? If so, which one should I select?

I am being asked to select the source of my royalty income on my 1099-MISC form from two choices: Royalty investment income from a natural resource, intellectual property or other investment portfolio; or Royalty income from being self-employed as a ... read more