Category

Tax

Summertime Tax Tips by Nikita Sipin, CPA


Posted on August 21, 2019 by Nikita Sipin

During summertime fun, taxes may be the furthest thing from your mind. However, several activities that are common during the summer months may help you qualify for valuable tax credits and deductions that can reduce your tax liabilities and even result in a tax refund next year.  Getting Married. When you take your spouse’s last […]

Tax Breaks for Teachers and Other Educators by Adam Slavin, CPA


Posted on August 13, 2019 by Adam Slavin

The summer months are winding down, and teachers around the country are already preparing for a new school year. While many teachers reach into their own pockets to pay for classroom supplies, the good news is that certain educators may qualify for tax-relief for some of these out-of-pocket expenses. Under federal law, eligible educators can […]

IRS Raises HSA Contribution Limits in 2020 by Adam Cohen, CPA


Posted on July 26, 2019 by Adam Cohen

Taxpayers who participate in high-deductible health insurance plans will be able to save a little more in their Health Savings Accounts (HSAs) in 2020, when contribution limits will increase to $3,550 for individuals or $7,100 for family coverage, up from their 2019 limits of $3,500 and $7,000 respectively. This 1.4 percent increase represents significant benefits […]

Taxpayer Scams Don’t Stop During the Summer by Joseph C. Leuchter, CPA


Posted on July 23, 2019 by Joseph Leuchter

As Americans enjoy their summer vacations, criminals remain hard at work devising new scams to steal taxpayers’ identities and intercept their tax refunds. The IRS reminds taxpayers to stay alert to tax-related schemes throughout the year, even after the April tax filing deadline. Most criminals conduct their scams via email and telephone, posing as agents […]