Tax Tips

Hello everybody!

Just a reminder that 2023 Extensions & 2024 1st quarter estimates are due by 4-15-23

* if you have an s corporation or multi-member LLC, those were due last month, on 3-15-24)

* see also information below for Arts tax, BOI & reporting of Foreign Bank Accounts.

Renting out a vacation home can be a lucrative venture, but it comes with a complex set of tax rules that homeowners must navigate to remain compliant and maximize their financial benefits.

More people are engaging in remote contract work than ever before. Remote contract work offers almost as many advantages to workers and companies as full-time employment.

Caring for a loved one with dementia is a profound emotional experience. The gradual loss of memory, personality changes, and the increasing need for constant care can be overwhelming. It's a time of sorrow, frustration, and often, financial strain. The emotional toll is heavy, and the financial implications can add to the burden.

More than ever, taxpayers are engaging in hobbies that bring in extra income to the household. There’s no limit to the creativity of humans, and hobbies run the gamut from painting, ceramics, baking, photography, weaving, blogging, coin collecting and more.

Hello everybody!

Just a reminder that 2022 Extensions & 2023 1st quarter estimates are due by 4-18-23

* if you have an s corporation or multi-member LLC, those were due last month, on 3-15-23)

* see also information below for Arts tax & reporting of Foreign Bank Accounts.

Hello!

I thought it might be useful to remind you how to get me your 2022 income tax data this year... it could save you some time and effort!

Owning your own business has significant tax advantages. Ask anyone who has gone from being an employee to being their own boss and they’ll tell you the deductions alone make it all worthwhile. Still, many business owners are missing out on a fair number of deductions. This may be for a combination of reasons.

it's the end of July & a great time to...

* review all Aug21-July22 tax blogs 

* ask tax questions early (now, or at least before Dec31st)

* take a look at your 2022 accounting (Quickbooks or other)

If you've been busy rolling the dice at a crap table in Vegas, playing the lottery now and then, or betting on your favorite team to win a few games, you may have accumulated some gambling winnings.