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

Credit Reports: What You Should Know

by TaxGenuity Tax Experts | Jan 15, 2022 | Tax Advice

Creditors keep their evaluation standards secret, making it difficult to know just how to improve your credit rating. Nonetheless, it is still important to understand the factors that determine creditworthiness. Periodically reviewing your credit report can also help...

Reminder: Identity Protection PIN Available To Taxpayers

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

Starting in January 2021, the IRS Identity Protection PIN Opt-In Program expanded to include all taxpayers who can properly verify their identity. Previously, IP PINs were only available to identity theft victims. What is an Identity Protection PIN? An identity...

Tax Planning vs. Tax Preparation: What is the Difference?

by TaxGenuity Tax Experts | Jan 9, 2022 | Tax Advice

Many people assume tax planning is the same as tax preparation, but the two are quite different. Let’s take a closer look: What is Tax Preparation? Tax preparation is the process of preparing and filing a tax return. Generally, it is a one-time event that...

Getting Ready for the 2022 Tax Filing Season

by TaxGenuity Tax Experts | Jan 3, 2022 | Tax Advice

Filing your tax return promises to be just as complicated as always – especially if you received stimulus payments or advance child tax credit payments. However, there are steps that taxpayers can take right now to make sure their tax filing experience goes...

Highlights of the Infrastructure Investment and Jobs Act

by TaxGenuity Tax Experts | Dec 30, 2021 | Tax Advice

While the recently passed Infrastructure Investment and Jobs Act primarily addresses infrastructure-related issues, it includes several tax provisions affecting individuals and small business taxpayers. Let’s take a look: Individuals Cryptocurrency...

Tax Credit for Hiring Long-Term Unemployed Workers

by TaxGenuity Tax Experts | Dec 27, 2021 | Tax Advice

With many businesses facing a tight job market, employers should know about a valuable tax credit available to them for hiring long-term unemployment recipients and other groups of workers facing significant barriers to employment. If your business is hiring right...

Important Information About Charitable Giving This Year

by TaxGenuity Tax Experts | Dec 23, 2021 | Tax Advice

For many nonprofits and taxpayers alike, Giving Tuesday is the start of the charitable giving season. While most organizations are legitimate, taxpayers should always research charities before donating. It is also a good idea to understand the expanded tax benefits of...