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

Employer Reimbursements for Moving Expenses

by TaxGenuity Tax Experts | Oct 19, 2018 | Tax Advice

For tax years prior to 2018, employees could exclude from income moving expenses reimbursed or paid by an employer. However, due to the passage of the Tax Cuts and Jobs Act (TCJA) last year, this tax provision has been suspended starting this year. This means, that...

Tax Relief for Victims of Hurricane Florence

by TaxGenuity Tax Experts | Oct 16, 2018 | Tax Advice

The IRS is offering tax relief to any area designated by the Federal Emergency Management Agency (FEMA), as qualifying for individual assistance. Currently, this only includes parts of North Carolina, but taxpayers in additional localities (and states) may be added to...

Applying for Tax-Exempt Status as Nonprofit

by TaxGenuity Tax Experts | Oct 13, 2018 | Tax Advice

If you’re thinking of starting a nonprofit organization, there are a few things you should know before you get started. First, is understanding how nonprofits work under state and federal law. For example, two things you should understand is that state law...

Choosing a Retirement Destination

by TaxGenuity Tax Experts | Oct 10, 2018 | Tax Advice

With health care, housing, food, and transportation costs increasing every year, many retirees on fixed incomes wonder how they can stretch their dollars even further. One solution is to move to another state where income taxes are lower than the one they currently...

Tax Considerations when Hiring Household Help

by TaxGenuity Tax Experts | Oct 7, 2018 | Tax Advice

If you employ someone to work for you around your house, it is important to consider the tax implications of this arrangement. While many people disregard the need to pay taxes on household employees, they do so at the risk of paying stiff tax penalties down the road....

Five Things to know before Starting a Business

by TaxGenuity Tax Experts | Oct 4, 2018 | Tax Advice

Starting a new business is an exciting, but busy time with so much to be done and so little time to do it in. Also, if you expect to have employees, there are a variety of federal and state forms and applications that will need to be completed to get your business up...

Avoiding an Unexpected Tax Bill

by TaxGenuity Tax Experts | Oct 1, 2018 | Tax Advice

Tax withholding can be complicated, and with the passage of the Tax Cuts and Jobs Act (TCJA) legislation, it’s even more so since a number of tax provisions have changed. As such, it’s important to make sure the right amount of tax is withheld for your...