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GAMBLING AND TAX GOTCHAS

Article Highlights: Winnings Losses Social Security Income Health Care Insurance Premium Subsidies Medicare B & D Premiums Online Gambling Accounts Gambling is a recreational activity for many taxpayers, and as one might expect, the government takes a cut if you win and won’t allow you to claim a loss in…
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SOLAR TAX CREDIT IS SUNSETTING SOON

Article Highlights: Solar Credit Phasing Out Qualifying Property When is the Credit Available? Who Gets the Credit Multiple Installations Battery Installation Costs Basis Adjustment Association or Cooperative Costs Mixed-Use Property Newly Constructed Homes Utility Subsidy Solar Installations are Not for Everyone A federal tax credit for the purchase and installation…
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10 TIPS FOR BETTER BUDGETING

If you already have a budget, it’s probably been difficult for you to stick with it for the last several months. Unless you provide products and/or services that have been in great demand since the COVID-19 pandemic took hold, you’ve had to adjust your budget significantly. Better days are ahead,…
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SEPTEMBER 2020 INDIVIDUAL DUE DATES

September 1 – 2020 Fall and 2021 Tax Planning Contact this office to schedule a consultation appointment. September 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during August, you are required to report them to your…
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