DiSabatino CPA Blog
Don't say "I do" until you've said a lot more to your spouse about finances. Here's a helpful guideline.
If you're a parent, your dependent children can be a source of tax savings. There are the well-known provisions in the tax code such as the Dependent Child Care Credit and the Child Tax Credit, but there's also an opportunity to shift some taxable income to your children.
Shifting income to your children works because the tax rate increases as your income rises. This provides an incentive to shift income to your lower-earning dependent children. Here's how to make it work:
What's the average tax refund check?
The IRS returned more than $323 billion in tax refunds to taxpayers last year.
Your charitable contribution deductions are still a great tax savings tool, but they may require more planning following the passage of the Tax Cuts and Jobs Act (TCJA) last year.
Don't fall for the "tax-deduction" charity scam
The IRS is warning taxpayers about fake charitable organizations tricking people into donating to receive tax deductions.
The IRS reported audit rates declined last year for the sixth year in a row and reached their lowest level since 2002. That’s good news for people who don’t like to be audited (which is everybody)!
But don’t get complacent. A closer look at the IRS data release reveals some audit pitfalls you should know about. Here is what you need to know:
If you need more time to file your 2017 income tax return, you can get an extension. Learn more about what you have to do.
The end of tax season is approaching and if you’re getting a refund, here are four useful tips to know.
Important April 17 tax deadlines
As you prepare for tax day, remember that the following are due on April 17:
There is a lot of confusion about home equity loans following the passage of the Tax Cuts and Jobs Act (TCJA) last year. The act changed the rules on whether the interest on these loans is deductible. So is it?
Fraud victims get FTC refund checks
The Federal Trade Commission is sending refund checks totaling more than $7.2 million to victims who bought "buy-one-get-one-free" products marketed by the Allstar Marketing Group LLC.
If you're considering converting a traditional IRA retirement account into a Roth IRA, be aware that the Tax Cuts and Jobs Act (TCJA) signed last year now limits your ability to change your mind.
Avoid tax return mistakes!!! As you file your 2017 tax return this season, make sure you don't fall victim to some of the easiest mistakes made each year.
Calling the IRS? Let the agency know who you are
If you need to call the IRS this tax season, be aware that you'll be asked to verify your identity. This is part of the IRS's continuing effort to keep taxpayer data secure. You can help your phone call go smoothly by having the following information handy when you dial: