by PTF | May 13, 2021 | Resource, Business Services, Tax Preparation
Qualified Small Business (QSB) Stock Gain Exclusion: Who Can Take Advantage and How to Do It Originally, selling stocks identified as having Qualified Small Business status was viewed as offering marginal benefit. But the last several years have seen incremental...
by PTF | May 11, 2021 | Individuals, Tax Preparation
Owe Taxes and Can’t Pay by the Due Date? Article Highlights: If you can’t pay Loans Credit card payments IRS Installment agreement Retirement funds The vast majority of Americans get a tax refund from the IRS each spring, but what if you are one of those who end...
by PTF | May 10, 2021 | Tax Preparation, Individuals, Planning Services
Consequences of Filing Married Separately Article Highlights: Changing Filing Status Liability Community Property States Social Security Benefits Capital Loss Limitations Sec 179 Business Expensing Election Rental Loss Limitation Traditional IRA Contributions Roth IRA...
by PTF | May 7, 2021 | Business Services, Tax Preparation
Running a Trading Business – and What it Means for Your Taxes The average American taxpayer is not aware that people who officially qualify as running a trading business receive special tax treatment. Their income comes from the profit they make by trading options,...
by PTF | May 6, 2021 | Tax Preparation, Announcements
The Tax-Filing Deadline Is Around the Corner Article Highlights: Extensions Balance-Due Payments Contributions to Roth or Traditional IRAs Individual Refund Claims for the 2017 Tax Year Missing Information As a reminder to those who have not yet filed their 2020 tax...
by PTF | May 2, 2021 | Tax Preparation, Announcements
Refund Statute Expiring: Don’t Miss Out! Article Highlights: The refund statute expires on May 17, 2021 for unfiled 2017 returns. Unfiled returns will lose out on refundable credits. Refunds may be offset by unpaid child support, past due student loans, and back...
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