Tax Advice | TaxGenuity, Inc. - Tax Experts & IRS Problem Solvers

What Are IRS Notices CP2100 And CP2100A?

by TaxGenuity Tax Experts | Jul 12, 2022 | Tax Advice

If you received a CP2100 or CP2100A notice from the IRS this year, don’t ignore it. Here’s what you need to know: In mid-April 2022, the Internal Revenue Service began sending CP2100 and CP2100A notices to financial institutions, businesses, or payers who...

Choosing a Payroll Service Provider

by TaxGenuity Tax Experts | Jul 11, 2022 | Tax Advice

When choosing a payroll service provider to handle payroll and payroll tax, employers need to make sure they choose a trusted payroll service that can help them avoid missed deposits for employment taxes and other unpaid bills. Typically, these clients remain legally...

HSA Limits Increase Significantly for 2023

by TaxGenuity Tax Experts | Jul 10, 2022 | Tax Advice

Contributions to a Health Savings Account (HSA) are used to pay the account owner’s current or future medical expenses, their spouse, and any qualified dependent and are adjusted annually for inflation. For 2023, the annual inflation-adjusted contribution limit...

Tax Tips for Students with a Summer Job

by TaxGenuity Tax Experts | Jul 8, 2022 | Tax Advice

With teen employment expected to be plentiful this summer, with better pay and more opportunities, chances are good that your high school or college student will have a job this summer. Here’s what they should know about summer jobs and taxes: Form W-4 When...

Common Small Business Budgeting Errors to Avoid

by TaxGenuity Tax Experts | Jul 7, 2022 | Tax Advice

When creating a budget, it’s essential to estimate your spending as realistically as possible. Here are five budget-related errors commonly made by small businesses and some tips for avoiding them. Not Setting Goals It’s almost impossible to set spending...

Tips to Help You Get Started Saving for Retirement

by TaxGenuity Tax Experts | Jul 6, 2022 | Tax Advice

It’s never too late to start saving for retirement, but the sooner you begin, the more time your money has to grow. That’s because gains each year build on the prior year’s gains thanks to the power of compound interest – and it’s the...

June 15 Deadline for Taxpayers Living Abroad

by TaxGenuity Tax Experts | Jun 8, 2022 | Tax Advice

If you live or work outside the United States, you generally must file and pay your tax the same way as people living in the U.S. This includes people with dual citizenship. People who live and work abroad have until June 15, 2022, to file their 2021 federal income...