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How Do Property Taxes on Second Homes Work?

The deadline to appeal property taxes is September in many areas. With the decline in property values, it may be worth appealing your property tax value to make sure you are paying the correct property tax amount. You may be able to save money. Josh Ritchie gives us details on how frequency of use of
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Tax Tips for Extension Filers

Autumn is upon us, and if you chose to file a tax extension this year, October 15 is your target date…your zero hour…your deadline. Your six-month grace period is coming to an end. If it feels as though the past few months have flown by, don’t fret, there is still time to submit your tax
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Don’t Forget About These

Don’t Forget About These Miscellaneous Tax Deductions You filed for a tax extension, and bought yourself a bit of time to get your final tax return into the IRS. The clock’s been ticking and the October 15th tax deadline is approaching. Hopefully, you’ve spent this time gathering your documents: The W-2s, home mortgage interest, etc.
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The Government Shutdown and Your Taxes

The Government Shutdown and Your Taxes IRS Update: The government shutdown that took place on October 1 left everyone with questions about how the shutdown will impact them. If you are one of the taxpayers that filed an extension, you may be wondering if the shutdown impacts filing your taxes. Don’t worry. We have you
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Tax Tips if You Traveled for Charity Work

Tax Tips if You Traveled for Charity Work Were you particularly generous this summer by donating not only your money but also your time? If so, keep reading to see if some of your charitable nature might be rewarded by an increased tax deduction next April. What Kind of Charity Work Qualifies for a Possible
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IRS introduces simplified method for claiming home office deduction

IRS introduces simplified method for claiming home office deduction The IRS has announced a new optional safe harbor method, effective for tax years beginning on or after January 1, 2013, for individuals to determine the amount of their deductible home office expenses (IR-2013-5, Rev. Proc. 2013-13). Being hailed by many as a long-overdue simplification option,
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Special tax treatment available for Major Disaster Victims

Special tax treatment available for major disaster victims Shawnee and Moore residents are not thinking about taxes today. They’re still trying to salvage what they can from the deadly tornadoes that ripped apart their central Oklahoma towns just more than a week ago. And they might have to be looking later today for storm-study shelter
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Tax Deductions for Newlyweds

Congratulations on getting married! As you two embark on this journey together, I wanted to share some tax deductions that can help you come tax time. One thing that you may not be familiar with is exactly how tax deductions help you. Tax deductions lower your family’s taxable income and may help you lower your
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1099-K Reporting Requirements

1099-K Reporting Requirements for Payment Settlement Entities Beginning in January, 2012, payment settlement entities (PSEs) are required by the Housing Assistance Tax Act of 2008 to report on Form 1099-K the following transactions: All payments made in settlement of payment card transactions (e.g., credit card); Payments in settlement of third party network transactions IF: -Gross
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!!!TIME SENSITIVE – VITAL TAX UPDATE!!!

TAX UPDATE !!!TIME SENSITIVE – VITAL TAX UPDATE!!! The IRS is requiring reporting and taxation on all FOREIGN owned BANK ACCOUNTS and ASSETS by citizens and permanent residents of the U.S. Requirements are specific, deadlines are set, penalties for noncompliance are atrocious, and negligence is not tolerated. . Technology improves our lives with information but