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

How to Save for College Tax-Free

by TaxGenuity Tax Experts | Aug 7, 2014 | Tax Advice

According to a 2014 study published by the Federal Reserve Bank of San Francisco, researchers found that over a lifetime, the average U.S. college graduate will earn at least $800,000 more than the average high school graduate–even after taking into...

Cash Flow: The Pulse of your Business

by TaxGenuity Tax Experts | Aug 3, 2014 | 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...

Tax Tips for Students with a Summer Job

by TaxGenuity Tax Experts | Jul 25, 2014 | 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...

Bitcoins Treated as Property for Federal Tax Purposes

by TaxGenuity Tax Experts | Jul 21, 2014 | Tax Advice

Many retailers and online businesses now accept virtual currency for sales transactions, but the federal tax implications were relatively unknown until recently when the IRS issued a set of FAQs on virtual currency such as bitcoins. The FAQs provide basic information...

Start Planning Now for Next Year’s Tax Return

by TaxGenuity Tax Experts | Jul 17, 2014 | Tax Advice

This year’s tax deadline may have come and gone, but it’s never too early to start planning for next year or to think about setting up a smart record-keeping system. With that in mind, here are seven things you can do now to make next April 15 easier. 1....

Paying off Debt the Smart Way

by TaxGenuity Tax Experts | Jul 13, 2014 | Tax Advice

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, that...

The Home-Based Business: Basics to Consider

by TaxGenuity Tax Experts | Jul 9, 2014 | 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...