by Logan Creek Creative | Aug 19, 2026 | TAX TIPS
Your grandson needs a car, but cannot afford the payments. As a favor, you provide the $25,000 to purchase the car. You tell your grandson to pay you back when he can, but there is no loan document. The IRS sees this payment during an audit and asks you where your...
by Logan Creek Creative | Jul 30, 2026 | TAX TIPS
Summer is coming to a close next month and the back-to-school advertising blitz is underway. Hidden in some of those school expenses are tax deductions you can take advantage of. Here are some ways you can save: Watch for tax deductions on the supply list. Schools...
by Logan Creek Creative | Jul 16, 2026 | TAX TIPS
You own some stock that has increased in value. To avoid a possible taxable gain by selling the stock, you wish to give it directly to a child or grandchild. This simple idea has some interesting tax consequences to consider. Value of the gift When you gift stock...
by Logan Creek Creative | Jun 2, 2026 | TAX TIPS
Each year, the IRS audits over 1 million tax returns. With agency resources shrinking, the IRS is more selective when choosing which tax returns to audit. Knowing what the IRS is looking for can help you understand and reduce your audit risk. Here are five of the...
by Logan Creek Creative | May 18, 2026 | TAX TIPS
Excess gift giving could cause a tax surprise In an effort to keep taxpayers from transferring wealth from one generation to the next tax-free, there are specific limits to the amount of gifts one may give to any one person...
