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

Choosing a Payroll Service Provider

by TaxGenuity Tax Experts | Jul 11, 2022 | Tax Advice

When choosing a payroll service provider to handle payroll and payroll tax, employers need to make sure they choose a trusted payroll service that can help them avoid missed deposits for employment taxes and other unpaid bills. Typically, these clients remain legally...

HSA Limits Increase Significantly for 2023

by TaxGenuity Tax Experts | Jul 10, 2022 | Tax Advice

Contributions to a Health Savings Account (HSA) are used to pay the account owner’s current or future medical expenses, their spouse, and any qualified dependent and are adjusted annually for inflation. For 2023, the annual inflation-adjusted contribution limit...

Tax Tips for Students with a Summer Job

by TaxGenuity Tax Experts | Jul 8, 2022 | Tax Advice

With teen employment expected to be plentiful this summer, with better pay and more opportunities, chances are good that your high school or college student will have a job this summer. Here’s what they should know about summer jobs and taxes: Form W-4 When...

Common Small Business Budgeting Errors to Avoid

by TaxGenuity Tax Experts | Jul 7, 2022 | Tax Advice

When creating a budget, it’s essential to estimate your spending as realistically as possible. Here are five budget-related errors commonly made by small businesses and some tips for avoiding them. Not Setting Goals It’s almost impossible to set spending...

Tips to Help You Get Started Saving for Retirement

by TaxGenuity Tax Experts | Jul 6, 2022 | Tax Advice

It’s never too late to start saving for retirement, but the sooner you begin, the more time your money has to grow. That’s because gains each year build on the prior year’s gains thanks to the power of compound interest – and it’s the...

June 15 Deadline for Taxpayers Living Abroad

by TaxGenuity Tax Experts | Jun 8, 2022 | Tax Advice

If you live or work outside the United States, you generally must file and pay your tax the same way as people living in the U.S. This includes people with dual citizenship. People who live and work abroad have until June 15, 2022, to file their 2021 federal income...

Is Your College Student’s Scholarship Taxable?

by TaxGenuity Tax Experts | Jun 6, 2022 | Tax Advice

May 1st is the traditional deadline for undergraduate students to commit to their college of choice, which means tuition payments are not far behind. If you’re wondering if your child’s scholarships are taxable, here’s what you should know. First,...