Category: Tax Tips

What Is a Section 1035 Exchange? A Smart Strategy for Insurance Policyholders

Just as real estate investors benefit from tax-deferred exchanges under Section 1031 of the Internal…
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HAVE MANY 401K ACCOUNTS? THERE ARE REASONS TO CONSOLIDATE NOW.

The era in which an individual was employed by a company and remained there for…
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IRS encourages people to do an end-of-summer tax checkup to avoid tax surprises next year

Issue Number:    IR-2024-225 WASHINGTON – The Internal Revenue Service today encouraged taxpayers to consider using…
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IRS reminds taxpayers of important tax guidelines involving contributions and distributions from online crowdfunding

Issue Number:    FS-2024-28 FS-2024-28, August 2024 Crowdfunding distributions may be includible in the gross income…
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FORM W9 REQUEST FOR TAX IDENTIFICATION

FORM W-9 : Your Essential Guide to IRS Compliance:

Follow Us : YouTube | Facebook | Linked In Businesses utilize IRS Form W-9 to…
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Do you own a foreign life insurance? Have you taken care of these ? If not, ARE YOU OUT OF USA TAX COMPLIANCE?

Foreign life insurance policies generally complicate the USA tax return. There is no particular exemption…
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The Educator Expense Deduction can help offset out-of-pocket classroom costs

IRS Issue Number: Tax Tip 2024-66 The Educator Expense Deduction lets eligible teachers and administrators…
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Taxpayers should review the education tax credits before they file

IRS Issue Number: Tax Tip 2024-67 There are two education tax credits designed to help offset education…
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Employer-offered educational assistance programs can help pay for college

IRS Issue Number: Tax Tip 2024-68 An educational assistance program is an employer’s written plan…
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Passive Foreign Investment Companies (PFIC): A Comprehensive Guide to Filing Form 8612 / PFIC Taxes.

Do you hold an investment in a foreign mutual fund? Watch out – it may…
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