by DhallaCPA | Sep 18, 2023 | Tax Tips
If you have family members with disabilities, there may be a tax-advantaged way to save for their needs — without having them lose eligibility for the government benefits to which they’re entitled. It can be done though an Achieving a Better Life Experience (ABLE)...
by DhallaCPA | Aug 28, 2023 | Tax Tips
More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not thinking about taxes. But there may be tax consequences. Let’s take a look at five possible tax breaks. 1. Long-term medical care...
by DhallaCPA | Aug 22, 2023 | Tax Tips
If you’re age 50 or older, you can probably make extra “catch-up” contributions to your tax-favored retirement account(s). It is worth the trouble? Yes! Here are the rules of the road. The deal with IRAs Eligible taxpayers can make extra catch-up contributions of up...
by DhallaCPA | Aug 14, 2023 | Tax Tips
“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. A scam may come in through email, text messages, telephone calls or regular mail. Criminals regularly target both individuals and businesses and...
by DhallaCPA | Aug 1, 2023 | Tax Tips
The IRS recently released its audit statistics for the 2022 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage of returns are being chosen for audits these days, that will be little consolation...
