Welcome to the TaxGenuity Blog

Are you planning to pay for college in 2016? If so, money you paid for higher education can mean tax savings on your tax return when you file next year. If you, your spouse or your dependent took post-high school coursework last year, you may be able to take advantage...

Many people use a tax professional to prepare their taxes. Tax professionals with an IRS Preparer Tax Identification Number (PTIN) can prepare a return for a fee. If you choose a tax pro, you should know who can represent you before the IRS. Unlimited representation...

If you give money or goods to a charity in 2016, you may be able to claim a deduction on your federal tax return. Here are six important facts you should know about charitable donations. 1. Qualified Charities. You must donate to a qualified charity. Gifts to...

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...

Some natural disasters are more common in the summer, but major events such as hurricanes, tornadoes and fires can strike at any time. It's always a good idea to plan for what to do in case of a disaster. Here are some basic steps you can take right now to prepare: 1....

What if there were a tool that helped you create crystal-clear plans, provided you with continual feedback about how well your plan was working, and that told you exactly what's working and what isn't? Well, there is such a tool. It's called the Budget vs. Actual...

Between mortgages, car loans, credit cards, and student loans, most people are in debt. While being debt-free is a worthwhile goal, most people need to focus on managing their debt first since it's likely to be there for most of their life. Handled wisely, however,...

Whether you've just started a nonprofit, recently submitted your organization's first Form 990, or are the executive director, it's important not to lose sight of your obligations under federal and state tax laws. From annual filing and reporting requirements to taxes...

There are many reasons to sell a business. Maybe you're in ill health or ready to retire. Or you're tired of working all the time and now that the business is profitable you're ready to cash in. Whatever the reason, selling a small to medium sized business is a...

Each year, the IRS mails millions of notices and letters to taxpayers for a variety of reasons. If you receive correspondence from the IRS here's what to do: Don't panic. You can usually deal with a notice simply by responding to it. Most IRS notices are about federal...