Tax Advice | TaxGenuity, Inc. - Tax Experts & IRS Problem Solvers

Self-Employed? Five Easy Ways to Lower your Tax Bill

by TaxGenuity Tax Experts | May 10, 2018 | Tax Advice

If you’re like most small business owners, you’re always looking for ways to lower your taxable income. Here are five ways to do just that. 1. Deducting the Cost of a Home Computer If you purchased a computer and use it for work-related purposes, you can...

Tax-Saving Strategies that Reduce your Tax Liability

by TaxGenuity Tax Experts | May 7, 2018 | Tax Advice

If you’re looking to save money on your taxes this year, consider using one or more of these tax-saving strategies to reduce your income, lower your tax bracket, and minimize your tax bill. Max Out Your 401(k) or Contribute to an IRA You’ve heard it...

Selling your Small Business

by TaxGenuity Tax Experts | May 6, 2018 | Tax Advice

Selling a small to medium-sized business is a complex venture, and many business owners are not aware of the tax consequences. If you’re thinking about selling your business the first step is to consult a competent tax professional. You will need to make sure...

What to do when your Tax Return is late

by TaxGenuity Tax Experts | May 4, 2018 | Tax Advice

Tuesday, April 17, 2018, was the tax deadline for most taxpayers to file their tax returns. If you haven’t filed a 2017 tax return yet, it’s not too late, and it may be easier than you think. First, gather any information related to income and deductions...

Small Business: Tax Breaks for Charitable Giving

by TaxGenuity Tax Experts | May 3, 2018 | Tax Advice

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....

TaxGenuity is Open Year-Round for All Your Tax Needs

by TaxGenuity Tax Experts | May 3, 2018 | Tax Advice

Although the 2018 tax filing season ended two weeks ago for filing the tax-year 2017 tax returns, our office is open year-round to help with all of your tax needs. Please call our office at 727 330-3500 and we will be very happy to assist you with any tax issues....

Reporting Virtual Currency Transactions

by TaxGenuity Tax Experts | May 1, 2018 | Tax Advice

With the price of Bitcoin hitting record highs in 2017, many Bitcoin holders cashed out not realizing the impact it could have on their tax bill. Many people, for example, did not understand that it was a reportable transaction and found themselves with a hefty tax...