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

Turn Your Vacation into a Tax Deduction

by TaxGenuity Tax Experts | May 11, 2014 | Tax Advice

Tim, who owns his own business, decided he wanted to take a two-week trip around the US. So he did–and was able to legally deduct every dime that he spent on his vacation. Here’s how he did it. 1. Make all your business appointments before you leave for...

Tips for Tax-Exempt Organizations Filing Form 990

by TaxGenuity Tax Experts | May 8, 2014 | Tax Advice

As the May 15 Filing Deadline for tax-exempt organizations filing Form 990-series information returns and notices quickly approaches, here are two important reminders for protecting personal information: First, make sure you file Form 990 if you are required to file....

Paying Taxes on Household Helpers

by TaxGenuity Tax Experts | May 5, 2014 | Tax Advice

If you employ someone to work for you around your house, it is important to consider the tax implications of this arrangement. While many people disregard the need to pay taxes on household employees, they do so at the risk of paying stiff tax penalties down the road....

Seven Facts about Dependents and Exemptions

by TaxGenuity Tax Experts | Apr 29, 2014 | Tax Advice

There are a few tax rules that affect everyone who files a federal income tax return. This includes the rules for dependents and exemptions. These seven facts about dependents and exemptions will help you when you file your taxes this year. 1. Exemptions lower your...

Simplified Option for the Home Office Deduction

by TaxGenuity Tax Experts | Apr 25, 2014 | Tax Advice

If you’re one of the more than 3.4 million taxpayers claimed deductions for business use of a home (commonly referred to as the home office deduction), don’t forget about the new simplified option available for taxpayers starting with 2013 tax returns...

Estimated Tax Payments – Q & A

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

Question: How do I know if I have to file quarterly individual estimated tax payments? Answer: If you owed additional tax for the prior tax year, you may have to make estimated tax payments for the current tax year. If you are filing as a sole proprietor, partner, S...

Itemizing vs. Standard Deduction

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

When you file your tax return, you usually have a choice about whether to itemize deductions or take the standard deduction. Before you choose, it’s a good idea to figure your deductions using both methods and choose the one that gives you the most benefit....