Scammers use every opportunity to try and steal your money and your identity. During this COVID-19 “Safer at Home” time, they have ramped up their efforts. Here are some things to look for: Phone Scams  Government agencies like the Internal Revenue Service (IRS) and Treasury Department will NOT contact you by phone to collect information… Read More

What Affects Your Credit Scores? Behind the number itself (credit scores typically range from 300 to 850), there are five main factors used to calculate credit scores. Lenders use those scores to figure out how likely you are to pay back your debt—thus those scores are often the deciding factor in whether you will get… Read More

Every year, scams steal millions of dollars from unsuspecting people, as well as stealing their personal information. The scams are getting harder and harder to detect. Here are some of the things to watch for. 1. Social Security Numbers: Getting access to your social security number is the holy grail for scammers. Once they have… Read More

Final Rule: Overtime Update On September 24, 2019, the U.S. Department of Labor announced a final rule to make 1.3 million American workers newly eligible for overtime pay. The final rule updates the earnings thresholds necessary to exempt executive, administrative and professional employees from the Fair Labor Standards Act’s (FLSA) minimum wage and overtime pay… Read More

Every year we deal with clients that feel they don’t get enough back, or the opposite – the IRS is holding too much of our money. This is not a one size fits all answer. Take the time to check your withholdings every year. The IRA is providing a very useful Tax Withholding Estimator for… Read More

Every small business owner knows that running a successful small business is difficult. We want to remind our small business clients that claiming a home office deduction can help — and there are a couple of ways to do that. Do I Qualify for the Deduction? There are several ways to qualify for the home… Read More

Are you one of those people who is terrified of the IRS? Have a whole closet in your home dedicated to the last 20 years of tax returns? Scared to throw anything away? But is that reasonable? As far as taxes are concerned the IRS spells it out this way: The length of time you… Read More

Many people are still confused by the new tax cuts, and what it means to them. If you have college aged students or 529 Savings Accounts, here’s a quick look into the changes. Tuition waivers remain in place Graduate students still won’t have to pay income taxes on the tuition waiver they get from their… Read More

The end of the year is approaching.  There are two good things to review every year to help with your financial knowledge and growth.  One is reviewing your social security statements. The other is to review your credit report. Social Security statements – receive a yearly Social Security statement.  Good tool to have to estimate… Read More

The IRS and the Treasury Department have unveiled a new postcard-sized version of the Form 1040, planning to replace the current 1040, 1040A and 1040EZ for the next tax season. According to the Internal Revenue Service they removed everything except for the strictly necessary information, and placed it on supplemental schedules.   The new 1040… Read More