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

Tax Planning for Small Business Owners

by TaxGenuity Tax Experts | Aug 7, 2015 | Tax Advice

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

Changing Jobs? Don’t Forget your 401(k)

by TaxGenuity Tax Experts | Aug 2, 2015 | Tax Advice

One of the most important questions you face when changing job is what to do with the money in your 401(k). Making the wrong move could cost you thousands of dollars or more in taxes and lower returns. Let’s say you put in five years at your current job. For...

Tax Tips for Members of the Military

by TaxGenuity Tax Experts | Jul 26, 2015 | Tax Advice

Special tax benefits apply to members of the U. S. Armed Forces. For example, some types of pay are not taxable. And special rules may apply to some tax deductions, credits and deadlines. Here are ten of those benefits: 1. Deadline Extensions. Some members of the...

Tax Tips for Students with a Summer Job

by TaxGenuity Tax Experts | Jul 22, 2015 | Tax Advice

Is your child a student with a summer job? Here’s what you should know about the income your child earns over the summer. All taxpayers fill out a W-4 when starting a new job. This form is used by employers to determine the amount of tax that will be withheld...

10 Tips for Deducting Losses from a Disaster

by TaxGenuity Tax Experts | Jul 18, 2015 | Tax Advice

National Hurricane Season is officially in progress. If you suffer damage to your home or personal property, you may be able to deduct the losses you incur on your federal income tax return. Here are ten tips you should know about deducting casualty losses: 1....

Cash Flow: The Pulse of your Business

by TaxGenuity Tax Experts | Jul 14, 2015 | Tax Advice

Cash flow is the lifeblood of any small business. Some business experts even say that a healthy cash flow is more important than your business’s ability to deliver its goods and services! While that might seem counterintuitive, consider this: if you fail to...

The Home-Based Business: Basics to Consider

by TaxGenuity Tax Experts | Jul 10, 2015 | Tax Advice

More than 52 percent of 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...