Welcome to the TaxGenuity Blog

Got kids? They may have an impact on your tax situation. Here are eight tax credits and deductions that can help lower your tax burden. Dependents: In most cases, a child can be claimed as a dependent in the year they were born. Be sure to let us know if your family...

If you're looking to sell your home this year, then it may be time to take a closer look at the exclusion rules and cost basis of your home in order to reduce your taxable gain on the sale of a home. The IRS home sale exclusion rule now allows an exclusion of a gain...

Now that the 2012 tax season is over, it's time to focus on tax planning for 2013. One of the most significant tax changes this year is the Net Investment Income Tax (NIIT), which went into effect on January 1, 2013 as a result of health care reform enacted in 2010....

With seven months still remaining in the calendar year, it's a great time to double check your federal withholding. Most people have taxes withheld from each paycheck or pay taxes on a quarterly basis through estimated tax payments. But each year millions of American...

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...

Filing a past due return may not be as difficult as you think. Taxpayers should file all tax returns that are due, regardless of whether full payment can be made with the return. Depending on an individual's circumstances, a taxpayer filing late may qualify for a...

Although the 2012 tax season is officially over, tax scams unfortunately are not, which is why the IRS issues an annual "Dirty Dozen" list that includes common tax scams affecting taxpayers. Taxpayers should be aware of these tax scams so they can protect themselves...

When you hire someone to work around the house or baby-sit your children, do you need to pay tax for them? Keep reading to find out. If you employ someone to work for you around your house, it is important to consider the tax implications of this arrangement. While...

Would you like to legally deduct every dime you spend on vacation this year? The five strategies outlined in this article will show you how. Tim, who owns his own business, decided he wanted to take a two-week trip around the US. So he did--and was able to legally...

Question: How do I know if I have to file quarterly individual estimated tax payments? Answer: If you owed additional tax for the prior tax year, you may have to make estimated tax payments for the current tax year. If you are filing as a sole proprietor, partner, S...