Common Overlooked Taxable Events

Here are seven tax topics that seem innocent but can cause problems if not handled correctly.   1. Gambling winnings. If you receive a tax form at a casino for your winnings, that information is sent to the tax authorities. Since the form typically only contains...

The Impact of IRS Layoffs

  During the recent chaos of Federal employment moves over the past couple of weeks, two actions will impact how filing your tax return this year could go and how to prepare accordingly. Voluntary termination After being offered voluntary termination,...

Gone Phishing?

          Each year the IRS publishes the top dozen tax scams it encounters over the prior year. One of them that makes an all too common appearance on their list is the phishing scam. Here is what you need to know. Phishing requires bait...

Plan Your 2025 Retirement Contributions

As part of your planning for next year, now is the time to review funding your retirement accounts in 2025. Recent cost of living calculations means much higher contribution limits for next year. Plus the higher income phaseouts for eligibility will make many more...