Welcome to the TaxGenuity Blog

Employer-sponsored retirement plans have become a key component for retirement savings. They are also an increasingly important tool for attracting and retaining the high-quality employees you need to compete in today's competitive environment. Besides helping...

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...

Tax rules on rental income from second homes can be complicated, particularly if you rent the home out for several months of the year, but also use the home yourself. There is, however, one provision that is not complicated. Homeowners who rent out their property for...

Tuesday, April 18, 2017, was the tax deadline for most taxpayers to file their tax returns. If you haven't filed a 2016 tax return yet, don't delay. There's still time--and it's not as difficult as you think. Here's What to Do When Your Return Is Late First, gather...

Did you know that it's possible to trim your tax bill and save on your energy bills with certain home improvements? Here are some key facts you should know about home energy tax credits: Non-Business Energy Property Credit Part of this credit is worth 10 percent of...

Taxpayers often have questions about Individual Retirement Arrangements, or IRAs. Common questions include: When can a person contribute, how does an IRA impact taxes, and what are other common rules. If you have questions, here's what you need to know: Age Rules....

Taxpayers with children may qualify for certain tax benefits. Parents should consider child-related tax benefits when filing their federal tax return: 1. Dependent. Most of the time, taxpayers can claim their child as a dependent. Taxpayers can generally deduct $4,050...

Medical expenses can trim taxes. Keeping good records and knowing what to deduct make all the difference. Here are four tips to help taxpayers know what qualifies as medical and dental expenses: 1. Itemize. Taxpayers can only claim medical expenses that they paid for...

If you are a self-employed, you normally carry on a trade or business. Sole proprietors and independent contractors are two types of self-employment. If this applies to you, there are a few basic things you should know about how your income affects your federal tax...

Estimated tax is the method used to pay tax on income that is not subject to withholding. This includes income from self-employment, interest, dividends, alimony, and rent, as well as gains from the sale of assets, prizes and awards. You also may have to pay estimated...