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

Preparing for Hurricanes and Other Natural Disasters

by TaxGenuity Tax Experts | Jul 15, 2022 | Tax Advice

The Atlantic hurricane season officially began in June, so now is a good time for individuals, organizations, and businesses to make or update their emergency plans. Here are five steps taxpayers can take to safeguard their tax records before disaster strikes: 1....

Dirty Dozen Tax Scams for 2022

by TaxGenuity Tax Experts | Jul 13, 2022 | Tax Advice

The “Dirty Dozen” is a list of common tax scams that target taxpayers. Compiled and issued annually by the IRS, it includes a number of aggressive and evolving schemes that taxpayers should avoid. Let’s take a look at this year’s “Dirty...

What Are IRS Notices CP2100 And CP2100A?

by TaxGenuity Tax Experts | Jul 12, 2022 | Tax Advice

If you received a CP2100 or CP2100A notice from the IRS this year, don’t ignore it. Here’s what you need to know: In mid-April 2022, the Internal Revenue Service began sending CP2100 and CP2100A notices to financial institutions, businesses, or payers who...

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...