Welcome to the TaxGenuity Blog

Now is a great time to clean out that growing mountain of financial papers and tax documents that clutter your home and office. Here's what you need to keep and what you can throw out. Let's start with your "safety zone," the IRS statute of limitations. This limits...

Tax breaks for charitable giving aren't limited to individuals, your small business can benefit as well. If you own a small to medium size business and are committed to giving back to the community through charitable giving, here's what you should know. 1. Verify that...

Tax planning is the process of looking at various tax options to determine when, whether, and how to conduct business transactions to reduce or eliminate tax liability. Many small business owners ignore tax planning. They don't even think about their taxes until it's...

Whether you're self-employed or an employee, if you use a car for business, you get the benefit of tax deductions. There are two choices for claiming deductions: Deduct the actual business-related costs of gas, oil, lubrication, repairs, tires, supplies, parking,...

Tax-related identity theft occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund. It presents challenges to individuals, businesses, organizations and government agencies, including the IRS. Learning that you are...

Summer is wedding season. While tax returns and filing status are probably not high on your to-do list, you should be aware that with marriage, come tax changes--such as choosing the best filing status. After you say, "I do" you'll have two filing status options to...

If you or anyone in your family receive advance payments of the premium tax credit, now is a good time to check on whether you need to adjust your premium assistance. Because advance payments are paid directly to your insurance company (thereby lowering out-of-pocket...

If you sell your home and make a profit, do you know that the gain may not be taxable? That's just one key tax rule that you should know. Here are ten facts to keep in mind if you sell your home this year. 1. If you have a capital gain on the sale of your home, you...

If you use part of your home for business, you may be able to deduct expenses for the business use of your home, provided you meet certain IRS requirements. 1. Generally, in order to claim a business deduction for your home, you must use part of your home exclusively...

If you've moved--or are planning to move--this year to start a new job you may be able to deduct certain moving-related expenses on your tax return. You may also be able to deduct these expenses even if you kept the same job but moved to a different location. 1....