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

Independent Contractors: Classify Carefully

by TaxGenuity Tax Experts | Jul 3, 2024 | Tax Advice

Many businesses use independent contractors to help keep their costs down and provide flexibility for short-term needs. But the question of whether a worker is an employee or an independent contractor is complex. Be careful that your independent contractors are...

Tax Breaks for Increasing Accessibility

by TaxGenuity Tax Experts | Jun 28, 2024 | Tax Advice

Certain small business owners may qualify for tax breaks by making their premises accessible to people with disabilities. The CDC reports that 61 million people in the United States are affected by disabilities. The Disabled Access Credit is a nonrefundable credit for...

Help Prevent Financial Scams Aimed at Older People

by TaxGenuity Tax Experts | Jun 21, 2024 | Tax Advice

In any season, scam artists are seeking new ways to steal financial data and money from vulnerable people. Such fraudulent activities often target older adults. Here are three ways to help prevent elder financial abuse and fraud, whether you’re in this age bracket or...

Sending the Kids to Day Camp May Bring a Tax Break

by TaxGenuity Tax Experts | Jun 17, 2024 | Tax Advice

Among the many challenges of parenthood is childcare for kids when school lets out. Babysitters are one option, or you might consider sending them to a day camp. There’s no one-size-fits-all answer, but if you do choose a day camp, you could be eligible for a tax...

What Expenses Can’t Be Written Off by Your Business?

by TaxGenuity Tax Experts | Jun 13, 2024 | Tax Advice

If you check the Internal Revenue Code, you may be surprised to find that most business deductions aren’t specifically listed there. For example, the tax law doesn’t explicitly state that you can deduct office supplies and certain other expenses. Some expenses are...

What to Do if Your Business’s Data Security Is Breached

by TaxGenuity Tax Experts | May 31, 2024 | Tax Advice

Most businesses store sensitive information about employees and customers, such as names, addresses, Social Security numbers (SSNs), banking information and more. If lost or stolen, this data could put individuals at risk for identity theft and other types of damage....

Discovering a Mistake After Your Tax Return Is Filed

by TaxGenuity Tax Experts | May 28, 2024 | Tax Advice

Did you file your 2023 tax return and then realize you’d made a mistake? Perhaps you completed your return yourself and made an error in math or neglected to include a schedule that should’ve been attached. Or maybe you recently remembered some large, potentially...