Adjusted Gross Income (AGI) is one of the core tax terms used by Federal and many State taxing authorities. So, what is it and why is it important?
Archives for August 2021
Forced to Withdraw from Retirement Accounts?! What you need to know
Retirement Accounts – Did you know the government forces us to take money out of those accounts once we reach retirement? It’s called the required minimum distribution (RMD) rule. Here are some tips you should know about RMDs well before you reach retirement age.
Avoid These Small Business IRS Audit Mistakes
IRS audits – In late 2020, the IRS announced that it will increase tax audits of small businesses by 50 percent in 2021. Here are several mistakes to avoid if you do get audited.
Back to School Savings: Tips to Make School Expenses Deductible
It seems like summer has just begun and the Back-to-School advertising blitz has already started in the media. Are there tax savings tip opportunities within this nightmare for our kids? Certainly, if you are tax smart about your spending. While the amounts may be small, they can add up in a hurry. Here are some ideas: