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

Tips for a Stress-Free Tax Season

by TaxGenuity Tax Experts | Feb 5, 2018 | Tax Advice

Earlier is better when it comes to working on your taxes but many people find preparing their tax return to be stressful and frustrating. Fortunately, it doesn’t have to be. Here are six tips for a stress-free tax season. Don’t Procrastinate. Resist the...

Missing Important Tax Forms? Here’s what to do

by TaxGenuity Tax Experts | Feb 2, 2018 | Tax Advice

Form W-2 You should receive a Form W-2, Wage and Tax Statement, from each of your employers for use in preparing your federal tax return. Employers must furnish this record of 2017 earnings and withheld taxes no later than January 31, 2018 (allow several days for...

Late-Filing Penalty Relief for Partnerships

by TaxGenuity Tax Experts | Jan 31, 2018 | Tax Advice

The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (Surface Transportation Act) changed the date by which a partnership, real estate mortgage investment conduits (REMICs), or other entity must file its annual return. For calendar year...

Standard Mileage Rates for 2018

by TaxGenuity Tax Experts | Jan 25, 2018 | Tax Advice

Beginning on January 1, 2018, the standard mileage rates for the use of a car, van, pickup or panel truck are: 54.5 cents for every mile of business travel driven, up 1 cent from the rate for 2017. 18 cents per mile driven for medical or moving purposes, up 1 cent...

Extended Due Dates for Health Coverage Forms

by TaxGenuity Tax Experts | Jan 22, 2018 | Tax Advice

The due date for certain entities to provide 2017 health coverage information forms to individuals in 2018 has been extended. Insurers, self-insuring employers, other coverage providers, and applicable large employers now have until March 2, 2018, to provide Forms...

Early Retirement Distributions and Your Taxes

by TaxGenuity Tax Experts | Jan 19, 2018 | Tax Advice

Taxpayers may sometimes find themselves in situations when they need to withdraw money from their retirement plan early. What they may not realize is that taking money out early from your retirement plan may trigger an additional tax. Here are 10 things taxpayers...

The Basics of Starting a Home-Based Business

by TaxGenuity Tax Experts | Jan 17, 2018 | Tax Advice

More than half of all businesses today are home-based. Every day, people are striking out and achieving economic and creative independence by turning their skills into dollars. Garages, basements, and attics are being transformed into the corporate headquarters of the...