Welcome to the TaxGenuity Blog

You may be tempted to forget about your taxes once you've filed your tax return, but did you know that if you start your tax planning now, you may be able to avoid a tax surprise when you file next year? That's right. Now is a good time to set up a system so you can...

Starting a new business is an exciting, but busy time with so much to be done and so little time to do it in. And, 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...

Are you taking care of an elderly parent or relative? According to the U.S. Census Bureau, there were 44.7 million people age 65 and older in the United States in 2013, more than 15 percent of the total population. Whether it's driving to doctor appointments, paying...

What should you do if you already filed your federal tax return and then discover a mistake? First of all, don't worry. In most cases, all you have to do is file an amended tax return. But before you do that, here is what you should be aware of when filing an amended...

If you gave money or property to someone as a gift, you may wonder about the federal gift tax. Many gifts are not subject to the gift tax. Here are seven tax tips about gifts and the gift tax. 1. Nontaxable Gifts. The general rule is that any gift is a taxable gift....

Small businesses that have failed to timely file certain required retirement plan returns have until Tuesday, June 2 to take advantage of a special IRS penalty relief program. Launched June 2, 2014, the one-year temporary pilot program is designed to help small...

April 15 is the annual deadline for most people to file their federal income tax return and pay any taxes they owe. If, for whatever reason, you missed the deadline you may be assessed penalties for both failing to file a tax return and for failing to pay taxes they...

The IRS sends millions of letters and notices to taxpayers for a variety of reasons. Many of these letters and notices can be easily dealt with without having to call or visit an IRS office. Here are eight things you should know about if you receive a notice or letter...

Are you approaching retirement age and wondering where you can retire to make your retirement nest egg last longer? Retiring abroad may be the answer. But first, it's important to look at the tax implications because not all retirement country destinations are created...

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....