With modern apps and technologies, it’s never been so easy for individuals to participate in the investment world. Millions of Americans are dabbling in the investing game. Regardless of the size of your portfolio, your investing moves will have some impact on your tax bill. When it comes time to do your taxes, the size of your portfolio, your investment activities throughout the year and your decision to take the standard deduction or itemized deductions will all be factors. (more…)
What Are Your Chances of an IRS Audit?
When it comes time to file your taxes, many wonder: what are my odds of being audited by the IRS? The IRS tends to audit taxpayers with certain characteristics. Returns that have unusual or questionable items are most likely to be flagged for an audit. But here are some additional audit trends we’ve seen:
Avoid IRS Phishing Scams
These days, phishing scams pose as any individual or organization to try to gain access to your personally identifiable information (PII). Phone calls and emails are the most utilized methods for such scams. For the year 2018, the IRS reported that phishing scams had nearly doubled the numbers of 2017.
Making the Most of Your Charitable Contributions
Tis the season of giving, not only to your friends and family in reflection of the holiday season, but also to your favorite charitable organizations. Charitable giving is tax-deductible for both businesses and individuals. We’d like to see you make the most of your giving, so here are some tax tips to follow: