Gambling Tax: Don’t Roll the Dice with the IRS
Whether you’re heading to the casino for fun or betting as part of your profession, there’s one thing every gambler should keep in mind — gambling winnings are taxable. Despite …
What tax records can you toss and what should you keep?
If you’ve filed your 2024 tax return, you may be eager to do some spring cleaning, starting with tax-related paper and digital clutter. The documentation needed to support a tax return …
FBAR: For Those With Foreign Accounts
Any U.S. person with a financial interest in or authority over foreign financial accounts may be required to file a Report of Foreign Bank and Financial Accounts (FBAR). An FBAR is …
Could you be hit with the Trust Fund Recovery Penalty?
If you own or manage a business with employees, you could be personally responsible for paying a harsh tax penalty. It’s called the Trust Fund Recovery Penalty (TFRP). It applies …
Speed Tax Processing and Avoid Hassles
It’s that time again: Time to start thinking about getting your tax return prepared. Here are some quick tips you can use to help speed tax processing and avoid hassles. …