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

Identity Theft and Your Taxes

by TaxGenuity Tax Experts | Sep 8, 2016 | Tax Advice

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...

Best Filing Status for Married Couples

by TaxGenuity Tax Experts | Aug 28, 2016 | Tax Advice

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...

It’s Time for a Premium Tax Credit Checkup

by TaxGenuity Tax Experts | Aug 25, 2016 | Tax Advice

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...

Tax Tips for Individuals Selling Their Home

by TaxGenuity Tax Experts | Aug 22, 2016 | Tax Advice

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,...

Do You Qualify for the Home Office Deduction?

by TaxGenuity Tax Experts | Aug 19, 2016 | Tax Advice

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...

Deducting Moving Expenses

by TaxGenuity Tax Experts | Aug 16, 2016 | Tax Advice

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...

Charitable Contributions of Property

by TaxGenuity Tax Experts | Aug 13, 2016 | Tax Advice

If you contribute property to a qualified organization, the amount of your charitable contribution is generally the fair market value of the property at the time of the contribution. However, if the property fits into one of the categories discussed here, the amount...